"A combination of a stronger global market; less global risk concerns would be strengthening the rand at these levels. It's a risk-on trade generally, all emerging markets are up this afternoon," said Gary McNamara, portfolio manager at Sanlam Private Wealth.
"And there seems to be a little more positive sentiment in terms of potential trade negotiations between China and America, but that comes and goes," said McNamara.
The South African Revenue Service will publish July trade balance numbers on Friday. In fixed income, the yield on the benchmark 10-year issue was flat at 8.195%. On the bourse, the Johannesburg Stock Exchange's All-Share index gained 0.29% to 54,441 points, while the benchmark Top-40 index rose 0.27% to 48,561 points.