On Wednesday morning, the rand broke through R15.00 to the dollar - its best level in more than three weeks.
By 10:30 the rand was trading at R14.92.
Less than a week ago, the currency was trading above R15.41.
The rand received a shot in the arm from second-quarter GDP numbers, which saw the economy growing by a better-than-expected 3.1%. The mining sector - free from a gold mining strike and load-shedding - grew by a blistering 14%.
Read: SA economic growth surprises, recession avoided
Some traders may be betting that the new numbers will discourage the Reserve Bank from cutting rates in two weeks' time. Lower interest rates make the rand less attractive to currency traders, who will earn less yield while holding the currency. Meanwhile, Wall Street traders have now priced in a full 25 basis point cut in US rates later this month.
The rand was trading at R16.50 against the euro and R18.10 against the pound.The UK currency is facing pressure after prime minister Boris Johnson lost his first vote in parliament. Rebels from his own party object to a no-deal Brexit, and parliament will now vote on a bill to delay Brexit.
The rand is one of the best performers among emerging market currencies.
On Tuesday, the Indian rupee suffered its biggest one-day fall this year against the dollar after that country's second-quarter GDP disappointed. Growth of 5% was the weakest quarterly Indian economic growth number since 2013.
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