The rand fell on Wednesday as power cuts by state utility Eskom highlighted the challenges facing South Africa's ailing economy. But the weaker currency and strong palladium prices lifted the main South African stock indexes to a 3-1/2-week high.
At 1505 GMT, the rand was 0.47% weaker at 14.9600 per dollar, after earlier hitting a one-week low of 15.0550.
Wednesday's power cuts, after a number of Eskom generating units broke down, put more pressure on the country's weak economy ahead of a review by Moody's on Nov. 1.
Moody's is the last of the big three credit rating agencies to have an investment grade rating on South Africa.
On the stock market, Sibanye-Stillwater led the Top-40 index higher as the precious metals miner benefited from deficit-hit palladium. The Johannesburg All-Share index rose 0.93% to 56,090, while the Top-40 index gained 0.94% to 49,855 points.
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