Dec. 3 (Bloomberg) -- Venezuela’s bolivar sank to a two- month low a day after President Hugo Chavez threatened to seize more banks following the government’s takeover of four lenders.

The bolivar tumbled 9 percent to 6.30 per dollar in the unregulated parallel market, traders said. That’s the weakest level since Sept. 9. Venezuelans buy dollars in the parallel market when they can’t get government authorization to purchase them at the official exchange rate of 2.15 per dollar.

After seizing four banks and a brokerage on charges that their owner diverted deposits and failed to show the origin of funds, Chavez said yesterday that he has another group of banks on his “radar.” He vowed to nationalize the private banking industry if lenders don’t follow Venezuelan law.

Chavez, a 55-year-old former paratrooper and self- proclaimed socialist, has said banks aren’t doing enough to promote development with loans for housing, agriculture or construction. The government’s purchase of Banco de Venezuela from Banco Santander SA for $1.05 billion this year hasn’t created enough competition for private banks, Chavez said.

To contact the reporter on this story: Daniel Cancel in Caracas at dcancel@bloomberg.net; Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net