At 1746 GMT, the rand traded at 17.2500 against the dollar, 0.32% firmer than its previous close.
The dollar index, which measures the currency against six rivals, was down 0.6% at 109.65.
A survey showed on Wednesday that South Africa's business confidence slipped in the third quarter as sentiment among building contractors deteriorated due to shortages of some materials, load-shedding and planning delays.
"The reading remained in depressed territory," Investec economist Annabel Bishop said in a research note, adding that the outlook has become more uncertain both globally and locally
On the Johannesburg Stock Exchange (JSE), the Top-40 index ended 1.26% lower, at 60,174 points, while the broader all-share dropped 1.22% to 66,715 points.
Shares in Discovery Ltd fell over 10% after the insurer said it would withhold its ordinary share dividend "in light of the uncertain future impact of COVID-19 and the volatile global macro-economic environment."
Tiger Brands shares were down more than 6% after the food producer said it was recalling its Purity Essentials baby powder products as a precautionary measure after traces of asbestos were detected in test samples.
The government's benchmark 2030 bond was stronger, with the yield down 13.5 basis points to 10.375%.
(Reporting by Bhargav Acharya in Bengaluru and Anait Miridzhanian in Johannesburg; Editing by Andrew Heavens and Leslie Adler)
