Latin America

US banks seek deals to help Venezuela get dollars

U.S. Dollars and Venezuelan Bolivares notes
Juan Barreto | AFP | Getty Images

With dollars becoming scare in Venezuela, Wall Street banks such as Goldman Sachs and Bank of America are drumming up deals to boost the Latin American nation's foreign reserves, according to Bloomberg News.

According to documents obtained by Bloomberg, a swap proposed by Goldman Sachs would provide $1.68 billion in cash and be backed by $1.85 billion of the central bank's gold. Similarly, BofA said it could be an intermediary for $3 billion in payments to firms seeking U.S. dollars.

Neither deal has been completed, however, according to a government official with direct knowledge of the matter cited by Bloomberg.

Bloomberg said representatives of a Bank of America, Goldman Sachs and Venezuela's central bank declined to comment.

Read the full story from Bloomberg here.

(Read more: Venezuela after Chavez: An economy on the verge)