Stocks gained, led by gold producers who rebounded from steep losses the previous week as the precious metal's spot price gained slightly.
By 1515 GMT the rand was down 0.75% at 14.0850 per dollar compared with Friday's New York close of 13.9800. It fell to a session low of 14.1475 earlier, mainly reflecting broad-based dollar gains against major currencies.
"There's not a lot of news coming up in the next two weeks and I think we're going to be rangebound. But with thin liquidity the problem always is, should there be some big trades going through, the rand will go one way and people start panicking," Treasury One dealer Andre Botha said.
"My feeling is that we should watch euro/dollar and whatever euro/dollar does, rand will be a mirror image of that."
