Stocks were little changed with JSE-listed Steinhoff shares weighing on the market.
At 4.30pm, the rand was up 0.28% to R12.35 against the dollar from a close of R12.38 overnight in New York. By 5pm, the rand bid at R12.4256 to the greenback, about 1 cent softer than at the same time on Monday.
The currency reached R12.2775, gaining around 1%, earlier in the session.
“The Zuma trigger today (yesterday) gives a glimpse of how the rand will react if Zuma does step down early, although this possibility is increasingly being priced in,” said Christopher Shiells, a senior emerging market analyst at Informa Global Markets.