The rand was trading at 7.89 to the dollar at 0620 GMT, 1.38 percent firmer than Friday's New York close of 8.00. It briefly hit a session high of 7.8827.

Bonds followed suit, with the yield on the 2015 issue down five basis points to 6.69 percent and that on the 2026 bond falling by 5.5 basis points to 8.385 percent.