At 1548 GMT, the rand traded at 19.0625 against the dollar, 0.74% stronger than its previous close. On Monday it sunk to its lowest against the greenback in more than three months.

The dollar was last up 0.3% against a basket of global currencies.

On Wednesday, investor focus will be on Statistics South Africa, which will release consumer inflation data for December.

Producer price inflation figures for December are also due on Thursday, which will be released ahead of the South African Reserve Bank's rate decision.

Shares on the Johannesburg Stock Exchange rose, with the blue-chip Top-40 index closing 1.5% higher.

South Africa's benchmark 2030 government bond was weaker, with the yield up 4.7 basis points to 9.762%.

(Reporting by Anait Miridzhanian with additional reporting by Bhargav Acharya; Editing by Mrigank Dhaniwala, Alexandra Hudson)