Rise in C$ a challenge to industry: minister

Wed Apr 30, 2008 10:33am EDT
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OTTAWA (Reuters) - The rapid rise of the Canadian dollar over the past year has been a challenge for Canadian industry, Industry Minister Jim Prentice said on Wednesday.

"There are pros and cons associated with what industry has been dealing with the dollar. Certainly the advantage has been that the Canadian dollar has very high purchasing power and industry has been able to make investments," he told reporters.

"The rapidity with which the dollar rose over the last year has been a challenge for industry."

(Reporting by Randall Palmer, writing by David Ljunggren; Editing by Peter Galloway )