At 1229 GMT, the rand traded at 18.7225 against the dollar, around 1.08% weaker than its previous close.
The dollar last traded at 102.850 against a basket of global currencies, up 0.322%.
Many market participants will turn their attention to a policy panel discussion later this session of five central bank governors, including the Federal Reserve's Jerome Powell and European Central Bank President Christine Lagarde, said Casey Delport, an investment analyst at Anchor Capital.
Like other emerging market currencies, the risk-sensitive rand is susceptible to moves in global drivers such as the dollar, in the absence of local catalysts.
The rand strengthened at the start of the week as analysts speculated the weekend's aborted mutiny in Russia may mean President Vladimir Putin could skip a BRICS summit, where South Africa would in theory be obliged to arrest him.
The BRICS group of emerging economies -- Brazil, Russia, India, China and South Africa -- is due to hold the summit in Johannesburg in August.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index was last trading about 0.5% stronger than its previous close.
South Africa's benchmark 2030 government bond was stronger, with the yield down two basis points to 10.500%.
(Reporting by Tannur Anders; Editing by Anait Miridzhanian and Emma Rumney)
