UPDATE 2-Spain's BBVA weakened by South America currency falls
* BBVA Q1 revenue 5 bln eur vs forecast 5.3 bln eur
* Q1 profit down 64 pct to 624 mln euros
* Earnings hit by weaker Latam currencies
* Banco Popular Q1 profit falls 40 pct (Adds Popular earnings, analyst quotes)
By Sarah White and Jesús Aguado
MADRID, April 30 (Reuters) - Depreciating South American currencies cast a shadow over Spanish bank BBVA's first-quarter results on Wednesday, taking a heavy toll on revenues despite improving income from Mexico and its home market.
Spain's second-largest bank, like bigger rival Santander , relies on Latin America for much of its profit, which helped to offset losses in its domestic business through the economic downturn.
But foreign exchange volatility is now hitting income from some emerging markets when converted into euros.
BBVA posted a bigger than expected revenue fall to 5 billion euros ($6.9 billion), down 7 percent on the first three months of last year, adding that revenue would have risen 5 percent without currency fluctuations. Continuación...