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08/26/1998 12:29:31 RUSSIA C.BANK SAYS NOT REASONABLE TO CONTINUE WIDE-SCALECURRENCY INTERVENTION

MOSCOW, Aug 26 (Reuters) - The Russian central bank on

Wednesday said it would refrain from major interventions in the

currency markets because it was virtually the only seller of

foreign currency for roubles.

"The Central Bank of the Russian Federation does not

consider it reasonable to continue to undertake large-scale

foreign currency interventions as it is pratically the only

seller of foreign currency on the domestic market, which would

inevitably lead to a reduction in Russia's reserves," the

central bank said.

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