(Corrects to remove reference to Brazilian real in 7th paragraph, Brazilian equities in next-to-last and last paragraphs, and Brazilian equities and currency in table as Brazil markets were closed on Thursday for a local holiday.) * Mexican peso leads falls in Latin American currencies * Pemex under pressure to resume debt repayments * Peru declares state of emergency at Cuajone copper mine By Shreyashi Sanyal April 21 (Reuters) - Mexico's peso touched its lowest level in a month on Thursday after state oil firm Pemex came under pressure to make debt repayments, while Peru's sol slipped after a state of emergency was declared at a top copper mine. The peso slid 1.1%, hitting 20.20 against the dollar at one stage and leading falls among Latin American currencies. Cash-strapped Petroleos Mexicanos has struggled with years of declining crude production and in 2020 Pemex lost its coveted investment-grade debt rating. It is due to pay some 1 billion euros ($1 billion) to redeem a 2015 bond, two sources with knowledge of the matter told Reuters, despite President Andres Manuel Lopez Obrador's promise that his government would pay them until 2024. Peru's sol, meanwhile, fell 0.4% against the dollar after the world's second biggest copper producer declared a state of emergency near Southern Copper Corp's Cuajone mine. The Andean nation has been hit by protests at top mines which has halted 20% of its copper output. Prices of the metal bounced on Thursday. Most other emerging market currencies remained in a narrow range in choppy trading. Chile's peso was flat, while Colombia's peso dipped 0.1%. The MSCI's Latin American currencies index shed 0.3%, with investors digesting hawkish calls from developed world central banks. The U.S. Federal Reserve headed for perhaps its swiftest shift in monetary policy since the 1960s as it aimed for its key interest rate to hit its "neutral" level by year's end to tame surging inflation. "Previous Fed tightening cycles have been important triggers for several EM financial crises, including in Latin America in the 1980s and in Asia in the late 1990s," said Thomas Mathews, markets economist at Capital Economics. Mathews added that rising interest rates in developed markets has created fiscal risks in vulnerable emerging markets in the past, and run the risk of drying up the international capital flows needed to fund current account deficits. Latin American stocks fell 0.2%. Key Latin American stock indexes and currencies at 1454 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1087.52 -0.74 MSCI LatAm 2586.98 -0.16 Mexico IPC 54293.31 0.86 Chile IPSA 4966.24 -0.17 Argentina MerVal 93139.62 0.627 Colombia COLCAP 1632.42 -0.2 Currencies Latest Daily % change Mexico peso 20.1802 -0.98 Chile peso 816.9 -0.39 Colombia peso 3751.01 0.12 Peru sol 3.728 -0.40 Argentina peso (interbank) 114.1000 -0.11 Argentina peso (parallel) 196 1.79 ($1 = 0.9203 euros) (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Alexander Smith)
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