Latin American currencies weakened against the US dollar on Friday as efforts to resolve European debt problems faltered and US consumer confidence slipped to three-decade lows. A proposal to bolster faith in European sovereign debt by having the entire 17 nation eurozone region raise revenue through joint "eurobond" sales was rejected by German Chancellor Angela Merkel.
Brazil's real weakened 1.29 percent to 1.7305 to the US dollar in the local spot market, its weakest close since November 23. In Chile, the peso weakened 0.56 percent to 480.70, closing at its weakest since March 30 and shedding 2.33 percent for the week. Mexico's peso shed 0.71 percent to 13.0300 to the US dollar, extending one-year lows. On the week the Mexican peso shed 2.57 percent. Argentina's official peso was at 4.2025. Argentina's unofficial "blue chip" or "parallel peso" weakened 0.11 percent to 4.4350. Peru's sol weakened 0.17 percent to 2.7330 to the dollar.