The rand extended gains in early trade on Friday before the release of a whole-economy PMI survey, helped by more dollar weakness as traders bet that the US Federal Reserve was most likely done with interest rate increases.
At 0700 GMT, the rand traded at R18.37 against the dollar.
The dollar last traded around 0.1% weaker against a basket of global currencies.
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The rand is up more than 2% against the US currency this week.
Rand Merchant Bank analysts linked the rand’s continued advance to the “fallout from the Fed,” which left interest rates unchanged on Wednesday.
The risk-sensitive rand often takes its cues from global factors like US monetary policy.
The S&P Global South Africa PMI is due to be released around 0715 GMT, shedding light on business conditions in Africa’s most industrialised economy in October.
US jobs figures are scheduled for publication later in the day and could set the tone for global markets.
South Africa’s benchmark 2030 government bond was flat in early deals, the yield at 10.365%.
