The rand has continued to lose ground against the US dollar, weakening to its lowest level in more than two months.
The local currency fell beyond R16.70 to the dollar on Thursday, reaching levels last seen in late July.
The rand had been one of the stronger-performing emerging-market currencies in recent months, despite ongoing geopolitical tensions in the Middle East.
However, renewed concerns over inflation and interest rates are putting pressure on the currency.
Rising global oil prices have increased fears that inflation could remain elevated, while higher US interest rates have provided further support for the dollar.
Expectations of additional interest rate increases in the United States have also weighed on emerging-market currencies, including the rand.
Higher US rates have pushed up bond yields, making dollar-denominated assets more attractive to investors. This has reduced demand for emerging-market currencies such as the rand.
Market developments around oil prices, US monetary policy and inflation are expected to remain key factors influencing the rand's performance.