The sources said the bank was seen conducting sell-buy swaps in the dollar-yuan pair, alongside its purchases of dollars from exporters and other corporate clients.
"The big bank has been buying quite huge amounts of one-year dollars in the swap market," said one source, speaking on condition of anonymity.
The rand had earlier in the session struggled to make meaningful gains as scheduled power outages by state utility Eskom dragged into their sixth day and weighed on sentiment.
Eskom said on Monday that it aimed to get its power plant performance to "acceptable levels" by late 2021.
The jobs improvement came amid falling new COVID-19 cases, quickening vaccination rates and additional pandemic relief money from the government, putting the labor market recovery back on firmer footing and on course for further gains in the months ahead.
"This is a rather impressive nonfarm payroll report," said Edward Moya, senior market analyst at OANDA in New York.
"The US is assuming the leadership position on growth matters, fiscal dominance and certainly vaccinations," said Mazen Issa, senior FX strategist at TD Securities in New York.
The dollar index was little changed on the day at 91.094, after earlier rising to 91.223. The euro dipped 0.19% to $1.2039.
The peso weakened 1.08% to 20.8 per US dollar on Wednesday after the Senate approved the bill on Tuesday evening.
The legislation, aimed at strengthening state utility CFE, has frayed market nerves amid criticism it is essentially an "indirect expropriation" that could elbow out private sector renewable energy providers.
If you do see volatility the natural inclination is to take risk off the table, in this case it just basically means getting out of existing positions and the dollar shorts are extremely elevated at this point.
Short US dollar positions were last at $29.33 billion, according to data by the Commodity Futures Trading Commission.
The naira is seen easing on the spot market after it fell 0.21% to 410.29 per dollar on Thursday.
The kwacha is likely to face continued pressure against the dollar going into next week due to heightened demand for hard currency amid limited inflows.