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EMERGING MARKETS-Latam FX weaker on lower crude, EM selloff

SAO PAULO, July 5 (Reuters) - Most Latin American currencies weakened on Wednesday on a slump in crude prices, while worries about the independence of South Africa's central bank took a broader toll on emerging market currencies. Oil prices retreated more than 3 percent following their longest bull-run in more than five years, weighed down by climbing OPEC exports. Currencies from oil-exporting economies fell, including the Mexican and Colombian pesos. The Chilean peso declined along with a fall in the price of copper. Brazil's benchmark Bovespa stock index was nearly flat as a decline in iron ore futures hit shares of miner Vale SA. The worries about the independence of South Africa's central bank highlighted nerves about higher global borrowing costs. The South African rand slumped 1.8 percent following reports that the ruling African National Congress had agreed at its party conference that the central bank should be nationalized. The currency of Africa's most industrialized nation plumbed lows last hit in mid-June when a row over the bank's mandate also rattled markets just as the economy fell back into recession. Minutes from the U.S. Federal Reserve's latest policy meeting showed policymakers were increasingly split on the outlook for inflation and how it might affect the future pace of interest rate rises. Traders said the minutes confirmed recent market doubts over the Fed's plan to hike rates once this year and thrice next year.

Key Latin American stock indexes and currencies at 1845 GMT:

Stock indexes Latest Daily YTD pct pct

change change

MSCI Emerging Markets 1,009.77 0.3 16.75 MSCI LatAm 2,558.76 0 9.31 Brazil Bovespa 63,221.07 -0.02 4.97 Mexico S&P/BVM IPC 50,240.77 0.4 10.07 Chile IPSA 4,846.83 0.21 16.75 Chile IGPA 24,235.62 0.2 16.89 Argentina MerVal 22,565.34 0.8 33.38 Colombia IGBC 10,974.39 -0.16 8.36 Venezuela IBC 123,644.98 0.23 289.98 Currencies Latest Daily YTD pct pct

change change

Brazil real 3.2996 0.25 -1.53 Mexico peso 18.2945 -0.63 13.39 Chile peso 665.7 -0.33 0.75 Colombia peso 3,083 -1.24 -2.64 Peru sol 3.257 0.00 4.82 Argentina peso (interbank) 17.1300 -1.23 -7.33 Argentina peso (parallel) 17.16 -1.17 -1.98

(Reporting by Bruno Federowski; Editing by Leslie Adler)