Euro exchange rate level too high - French minister

PARIS Wed Jan 30, 2013 7:31am EST

PARIS Jan 30 (Reuters) - France's industry minister said on Wednesday that the euro exchange rate was too strong.

"The euro is too high compared with what the European economy deserves," Arnaud Montebourg told reporters.

President Francois Hollande and his government were following the issue closely and it was being discussed at the heart of the Eurogroup club of euro zone finance minister, he said.

The euro was trading at around $1.35 late in European morning trading on Wednesday, higher than any time since December 2011.