At 0639 GMT, the Rand traded at 18.31 against the Dollar , about 0.45% weaker than its previous close.

The African National Congress (ANC) lost its parliamentary majority in an election last month for the first time since the end of apartheid three decades ago, forcing it to share power with smaller rivals.

Financial markets wait with bated breath over the make up of Ramaphosa's new cabinet, after 10 political parties signed up to form a government of national unity. The pro-business Democratic Alliance(DA) is a market favourite.

"Appointments from the DA could bolster the rand, while familiar ANC names might have the opposite effect," said Zain Vawda, market analyst at OANDA, yesterday.

Market participants will keep an eye on key portfolios like finance, trade, industry and competition and small business development, Vawda said.

Officials from both the ANC and the DA told Reuters that the cabinet announcement could take place this Wednesday or Thursday.

SA’s benchmark 2030 government bond was weaker in early deals, with the yield up 2 basis points to 9.875%.

--Reuters—