Johannesburg - The rand recouped some of the previous day's sharp losses on Wednesday, but remained on shaky ground after Fitch ratings agency warned of a possible credit downgrade this year.
At 09:14 the local unit was trading at R11.7600/$, from Tuesday's New York close at R11.7615.
The local unit had fallen nearly 1% to R11.8175 on Tuesday, the softest it has been since February 12, according to Thomson Reuters data, after Fitch said it was more likely than not to cut South Africa's BBB rating.