The rand traded at 19.1850 against the U.S. dollar at 1640 GMT, 0.4% stronger than its previous close.
Producer inflation rose to 4.7% year on year in January from 4.0% in December, statistics agency data showed. Analysts had predicted 4.8%.
The country's trade deficit of 9.44 billion rand ($490.91 million) recorded in January was wider than a shortfall of 5.20 billion forecast by economists, according to revenue service data.
"South Africa's export potential continues to be impeded by a still muted global environment as well as the country's myriad of domestic specific challenges, including the significant logistical constraints," Investec analyst Lara Hodes said in a research note.
Other data showed that South Africa recorded a budget deficit of 54.66 billion rand in January, compared to a deficit of 78.63 billion rand in the same month a year earlier.
Central bank data showed South Africa's January M3 money supply growth was at 6.58% year on year and credit growth at 3.16%.
M3 is a measure of money supply released by the South African Reserve Bank, which includes all currency in circulation, bank deposits and debt securities, among others.
South Africa's financial conduct regulator told Reuters it was taking on more staff as part of a crackdown on money laundering and terrorism financing.
On Friday, the new CEO of state power utility Eskom Dan Marokane formally begins his tenure.
On the stock market, the Top-40 index closed up 0.81% while the broader all-share was 0.73% stronger.
South Africa's benchmark 2030 government bond was marginally weaker, with the yield up 1 basis points to 10.140%.
(Reporting by Bhargav Acharya and Anait Miridzhanian; Editing by Mrigank Dhaniwala, Kirsten Donovan)
