Money SA economy
The rand firmed in the afternoon session on Tuesday tracking a euro recovery against the US dollar.
At 3.45pm the rand was bid at R7.56 to the dollar, R10.29 to the euro and R11.33 to the pound.
A local currency trader said: "The euro bounced against the dollar, with the rand just keeping pace."
Dow Jones Newswires reported the euro rebounded from its lowest levels since May, gaining modestly against the dollar Tuesday after the Reserve Bank of Australia (RBA) noted issues of sovereign debt could dent a global recovery.
The RBA overnight increased key interest rates, leading to a mild gain in the Australian dollar, but investors focused on the central bank's accompanying statement, which contrasted Australia's steady growth with continued pressures in other major economies.
Meanwhile, investors continued to pressure the UK pound, though pressure was much less intense than Monday's session after the most recent polls showed the chances of a hung Parliament - which could lead to political gridlock and put additional pressures on an already stressed economy, had eased somewhat.
The euro could see some support over the next few days if debt-pressured Greece introduces new austerity measures to convince the euro zone and markets it can get its fiscal house in order, said Brown Brothers Harriman analysts.
