Iceland cbank abandons attempt to hold crown rate

REYKJAVIK (Reuters) - Iceland's central bank said on Wednesday it had abandoned an effort to hold its currency at a set rate as there was not enough support in the market to make it possible.

"The central bank of Iceland has for two days traded foreign currency on a different rate than the one made in the market," the central bank said in a statement in Icelandic on its Web site.

"It has become clear that this rate has insufficient support. The bank will therefore make no further attempts in this regard for the time being."

The Icelandic central bank this week announced it was trying to keep the crown at 131 per euro following a massive plunge in the currency due to the country's financial crisis.