Data showing US job growth slowed sharply in May weighed on Latin American markets already spooked by the euro zone's debt woes.
Brazil's real depreciated 1.48 percent to 2.0468 against the greenback.
Meanwhile, Brazil's economy grew a paltry 0.2 percent in the first quarter compared to the previous period -- a performance that may lead economists to lower growth estimates and could push the government to cut interest rates beyond record lows.
"Investors are beginning to rethink putting money in a country that shows slow growth. This decreases the attractiveness a bit," said Gustavo Godoy, a manager at bank Daycoval in Sao Paulo.
At the same time, data showing China's vast factory sector slowing and the euro zone's manufacturing sector contracting in May further deepened pessimism.
Still, the Mexican peso bucked the trend, firming 0.31 at 14.3050 per dollar.
Comments from Mexico's central bank governor Agustin Carstens helped buoy the peso and fanned speculation the bank could step up efforts to shield the currency.
"You have got to suspect they are going to come in and intervene at some point in time and I think that's what you see in the possible turnaround," said Enrique Alvarez, an analyst at IDEAglobal in New York.
Carstens said on Friday that Mexico was well prepared to deal with peso volatility.
In Chile, the peso depreciated to five month lows, weakening 0.37 percent to bid at 518.30 against the dollar.