The South African rand firmed against the dollar on Thursday after the greenback was jolted by the worst fall in US stocks in nearly eight months.
The rand was 0.71% stronger at 14.67 per dollar at 06:50 GMT, having closed in New York at 14.78.
The rand is expected to trade between 14.60 and 14.90 to the dollar on Thursday, NKC African Economics wrote in a note.
The rand had been supported by the market’s favourable reaction to the appointment of Tito Mboweni as the new South African finance minister on Tuesday.
South Africa-focused investors were awaiting the release of the statistics agency’s manufacturing production data for August due at 11:00 GMT. Consensus expectations are for production to have risen 0.6% on an annual basis.
In fixed income, the yield on the benchmark government bond due in 2026 rose 3 basis points to 9.26%.