At 0634 GMT, the rand traded at 18.1650 against the dollar, 0.19% firmer than its previous close.

ETM Analytics wrote in a research note the focus will be squarely on the local Medium-Term Budget Policy Statement (MTBPS) and the guidance that will come from the finance minister Enoch Godongwana.

"There are many fiscal hurdles to overcome, and whether he can strike a balance between fiscal orthodoxy, conservatism and consolidation yet still supporting the economy will determine how the rand ends the week," ETM Analytics wrote.

A Reuters poll published last week predicted the National Treasury would be able to trim this year's projected budget deficit thanks to buoyant mining receipts.

The government's benchmark 2030 bond was stronger in early deals, with the yield down 5 basis points to 10.820%.

(Reporting by Anait Miridzhanian; Editing by Krishna Chandra Eluri)