08/26/1998 16:15:35 Russia c.bank sees no foreign exchange controls
MOSCOW, Aug 26 (Reuters) - Russia's central bank does not
plan to apply currency controls to protect the sliding rouble as
this would mean a switch away from market economics, the bank's
spokeswoman said in a radio interview on Wednesday.
The central bank would not impose exchange controls because
this would be a move to "another form of economy" for which
Russia was not ready, Irina Yasina told Ekho-Moskvy radio.
Analysts and some officials have said Russia may have no
choice but to impose controls to limit the damage to the rouble,
which has been fallen heavily this week.
The currency was quoted at 8.26 to the dollar in morning
trade on the Moscow Interbank Currency Exchange (MICEX), a five
percent fall from the previous fix.
Trade was suspended on the exchange and the central bank
declared all session deals null and void. Trade would be resumed
on Thursday at Tuesday's fix.
The rouble slid 41 percent against the mark on Wednesday to
fix at 7.6000 to the German currency.
((Moscow Newsroom, +7095 941-8520