MOSCOW, June 24 (RIA Novosti) - Russia's lower house of parliament confirmed on Wednesday Sergei Ignatyev as chairman of the Central Bank for a new four-year term.

This will be his third successive term. Ignatyev was supported by 318 State Duma deputies, with 97 voting against his candidature.

Ignatyev was first appointed head of the country's top bank in March 2002 and was confirmed for a second term in November 2005.

Ignatyev oversaw the ruble's smooth devaluation at the beginning of the year amid the ongoing global financial crisis, helping the national currency reach its equilibrium level despite major pressure from speculators, creating advantages for domestic producers due to the devaluation effect.