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Report: Venezuela foreign reserves boosted by $300M

Banco Central De Venezuela has struck an agreement to obtain at least $300 million in cash from U.S. investment fund Fintech Advisory Inc. to help boost Venezuela's liquidity, Reuters reported April 7, citing "two market sources and a source close to the government."

One source said Venezuela agreed to a repurchase agreement using roughly $1.3 billion in bonds it currently holds, and two other sources added the central bank's board had already authorized the operation.

The country has been seeking to boost its liquidity as it has upcoming debt payments to make.

Data from the central bank's website already reflected a $300 million increase in foreign reserves later on April 7, according to the report.