The South African rand slipped in early trade on Monday as the dollar firmed following a decision by major oil producers to reduce supply.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, announced on Sunday its decision to reduce oil supply by about 1.16 million barrels per day (bpd).
The decision pushed oil prices up over 6% on Monday and drove dollar strength.
At 0612 GMT, the rand traded at 17.9100 against the dollar, 0.59% weaker than its previous close.
The dollar index which measures the currency against six rivals, last traded at 102.990, up about 0.039%.
The jump in oil prices may prompt the U.S. Federal Reserve to raise interest rates once again when it meets next month, analysts said.
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