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PBOC’s Reserves Decline by Record on Intervention, Euro’s Slide

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China’s foreign-exchange reserves slid the most on record in the last three months, fueling speculation the central bank sold holdings to support the yuan as money flowed out of the world’s second-largest economy.

The reserves dropped $113 billion to $3.73 trillion, the third straight quarterly decline, data from the central bank showed Tuesday. Yuan positions on the People’s Bank of China’s balance sheet, a barometer of capital flows, slid a record 252.1 billion yuan ($40.6 billion), according to a separate statement. China’s broadest measure of credit growth fell short of analyst estimates in March.