At 5 pm, the rand was bid at R12.9238 to the dollar, 10.77c stronger than at the same time on Friday, softer than the session-best R12.89.
“The disappointing US inflation numbers and the mothballing of the mining charter, that momentum is still coming through today,” said currency dealer at Treasury, One Andre Botha.
On Friday, South Africa said it had suspended the implementation of new mining laws, which included raising the level of shares black people should own in mining firms, pending a court ruling on a challenge lodged by the Chamber of Mines.
The announcement of the laws in mid-June saw the rand slide 2percent and mining shares plunge, and prompted a warning from ratings agency Moody’s that the new rules would deter investment, raise costs and diminish cashflow generation.
Meanwhile, stocks ticked up, led by buying coming back into Lonmin after it cut costs and boosted third quarter mining performance.
The benchmark JSE Top40 index ticked up 0.4percent to 4799.60 points, while the all share index gained 0.43percent to 53827.41 points.
Lonmin's share price rose to its highest level in more than a month after buying came into the previously oversold platinum miner when it cut more costs and improved its mining performance in its third quarter.
Lonmin advanced 14.82percent to close at R12.86.