The ruble fell, extending the biggest drop in emerging markets this week, as the Royal Bank of Scotland Plc said it has a bearish outlook on concern oil will continue to slide. Russia’s currency declined 1.1 percent to 76.92 per dollar by 12:17 p.m. in Moscow, bringing the retreat in the past five days to 2.8 percent. Brent crude fell for a third week to trade under $30 per barrel on signs Iran is moving closer to boosting exports. The ruble may weaken to 80 to the dollar, taking it to a record low, if Brent drops to $26, according to RBS. “We expect further ruble depreciation,” said Tatiana Orlova, a senior economist for Russia and the Commonwealth of Independent States at RBS in London. “Given the anecdotal evidence of a large build-up of speculative hedge fund oil shorts, we are concerned about the high risk of a sharp […]