China’s Reserves Fall, Suggesting Beijing Propping Up Yuan

China's center of government, the Great Hall of the People, seen here in a closeup on the country's largest monetary note, a one hundred yuan (or renminbi) on May 16, 2005. Frederic J. Brown/AFP/Getty Images

BEIJING—China’s foreign currency reserves declined in October in a sign Beijing might be intervening in the market to keep its yuan from falling too far against the dollar and triggering a possible U.S. backlash amid a tariff battle.

The reserves, the world’s largest, declined by about $34 billion to just over $3 trillion, according to central bank data released on Nov. 7.