The rand was slightly weaker in late trade on Monday as traders eyed details of the ECB's conditional bond-buying programme for direction.

At 3.56pm, the rand was bid at R8.2049 to the dollar from R8.1978 at Friday's close. It was bid at R10.7871 to the euro from its previous close of R10.8030 and at R13.3259 against sterling from R13.3682 before.

The euro was bid at $1.3148 from $1.3115 at Friday's close.

"Today we saw some weakness come into the markets - generally the dollar index was down. I think this was based on news out of the US last week, and brought a fair bit of risk into the market. The rand is also influenced by domestic concerns such as the mining unrest in the platinum sector," said Lynden Reabow, FX trader at PSG Prime.

Bonds firm on rand recovery

The South African bond market was firmer in afternoon trade on Monday after the rand recovered as there seemed to be a resolution on the horizon of the recent industrial action in the platinum mining sector.

At 3.38pm, the benchmark R157 bond was trading at 5.485 percent from 5.560 percent at noon and 5.540 percent at Friday's close. The R207 was bid at 6.570 percent and offered at 6.555 percent from Friday's close of 6.595 percent, and the R186 was trading at 7.570 percent from 7.600 percent at its previous close.

The rand was bid at R8.1885 from Friday's close of R8.1978 and Thursday's close of R8.2365.