The ruble dropped most among emerging-market currencies as tumbling oil prices exacerbated a selloff in riskier assets hit by China’s decision to let the yuan slip to a five-year low. Russia’s currency fell 1.9 percent to 74.6555 against the dollar by 5:34 p.m. in Moscow, heading for a record close and bringing its loss in the last 12 months to almost 18 percent. Brent crude, used to price the nation’s main export blend, declined 4.4 percent to $34.78 a barrel, an 11-year low. Analysts from Citigroup Inc. to UBS Group AG predict crude will near $30 in the coming months as U.S. government data to be released today is forecast to show crude supplies outstripping demand. In China, the central bank set the yuan’s reference rate at an unexpectedly weak level, sending emerging-market stocks and currencies lower. “This is a double-hit for the ruble — a combination of risk-off […]