By Agamoni Ghosh Feb 15 (Reuters) - Latin American currencies were mixed on Friday with the Mexican peso slipping against a strong dollar but Brazil's real rising, bucking a negative trend among its emerging market peers as investors cheered the government's release of details related to pension reform.

Sao Paulo's Bovespa index slid in line with its emerging market peers on broad-based declines led by financials.

The real was set to end higher for the week as traders welcomed President Jair Bolsonaro's approval of text for crucial pension reform that will be sent to Congress next week.

"The pension reform is the most important thing for the Brazilian economy right now. If we don't see anything positive there, the real is likely to go on the downside," said Christian Lawrence, senior market strategist, LatAm FX, Rabobank.

A note by rating agency Fitch on Friday also underlined risks within the Brazilian economy that include a further delay in pension reform along with limited expenditure reductions, and a weak and uneven macroeconomic recovery.

Mexico's peso fell to a two-week low against a robust dollar, which recovered after dismal U.S. retail sales data hit the greenback.

A Fitch downgrade for debt issued by Mexican state oil firm Pemex has weakened the currency for a while and stoked fears that further downgrades could significantly raise its financing costs and result in dire fiscal consequences for the government.

The Mexican government has said it will inject $3.6 billion into the ailing company but analysts fear it may not be enough.

"The injection is not going to save Pemex by any breadth. The size of the problem this company poses for the Mexican economy is still being underestimated the government," said Lawrence.

Meanwhile, stocks on the Bovespa slid over 0.4 percent with private education firm Kroton Educacional being the biggest drag on the index.

Petrobras shed 0.2 percent despite the rise in overseas oil prices, while BRF was up 1.58 percent amid reports that China will exempt 14 companies, including the company, from anti-dumping duties on imports of chicken products.

Key Latin American stock indexes and currencies at 1445 GMT Stock indexes daily % Latest change MSCI Emerging Markets 1031.50 -0.74 MSCI LatAm 2879.51 0.68 Brazil Bovespa 97640.98 -0.38 Mexico IPC - - Chile IPSA 5384.49 0.15 Argentina MerVal - - Colombia IGBC - - Currencies daily % change Latest Brazil real 3.7116 0.75 Mexico peso 19.3565 -0.52 Chile peso 663.2 0.12 Colombia peso - - Peru sol - - Argentina peso (interbank) - - (Reporting by Agamoni Ghosh in Bengaluru; Editing by Jeffrey Benkoe)