* Kudrin reiterates Russia's faith in the euro
* Euro's prospects "stable", still investing in euro bonds
* Schaeuble says euro zone has won back market trust,
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MOSCOW, Aug 27 (Reuters) - Russia's Finance Minister Alexei Kudrin on Friday gave his stamp of approval to efforts to stabilise the euro zone since Greece's debt crisis, saying Moscow continued to invest its huge reserves in euro-denominated assets.
"The Russian government judges the euro's prospects to be stable. We continue to invest in bonds denominated in euros," Kudrin told a news conference with his German counterpart Wolfgang Schaeuble.
"Appropriate measures have now been taken to stabilise the situation in the euro zone and in the euro market."
Russia has the world's third biggest gold and forex reserves, worth some $475 billion. [ID:nMOS007622] The forex part of the reserves is kept in 47 percent U.S. dollars, 41 percent euros and 10 percent sterling.
The finance ministry and central bank have repeatedly expressed confidence in the euro for the long-term after sticking with investments in the currency at the height of a crisis of investor confidence earlier this year.
The single European currency
Earlier this week, Schaeuble said the euro is trading in a "reasonable range" [ID:nLDE67O171] and he said on Friday that the euro zone had succeeded in gaining back the trust of investors.
"With joint effort... we have succeeded in winning back the trust of the market," he said through translator at a news briefing in Moscow after meeting with his Russian counterpart Alexei Kudrin.
Kudrin and Schaeuble said they had also discussed the need for greater representation of emerging markets at the International Monetary Fund, the commitments of the G20 and Russia's long-running bid to join the World Trade Organisation. (Reporting by Toni Vorobyova; editing by Patrick Graham)