A key committee of South Africa's ruling ANC party will hold an emergency meeting Monday as an anxious nation awaits word on whether President Jacob Zuma will resign soon because of corruption allegations, South African media reported.
At 0631 GMT, the rand traded at 11.9300 per dollar, 0.58 percent firmer than Friday's close of 12.0000.
The report stated that Zuma and ANC president Cyril Ramaphosa are secretly negotiating the deal.
In a speech which also marked 28 years to the day since Mandela was released from an apartheid-era prison, Ramaphosa said the talks on Zuma's future should be handled in an orderly, purposeful manner, "in Madiba's way of doing things", - using Mandela's clan name.
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"As the leadership of the ANC we are engaged in discussions around the transition ... and specifically the position of the president of the republic", Ramaphosa said.
Ramaphosa, 65, joined Zuma's Cabinet as deputy in 2014 and replaced the president as head of the African National Congress in December, providing political cover for his increasing attacks on corruption at top levels of government.
But there is a growing sense of unease over the lack of information about the confidential talks between Zuma and Ramaphosa.
"We all know and anticipate that they are dealing with the current issue that is facing our country", Faiez Jacobs, the party's provincial secretary, told eNCA television.
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The two have quarreled in recent months, with Ramaphosa publicly criticizing Zuma's decision past year to fire his respected finance minister, Pravin Gordhan, and his failure to tackle corruption.
"We know you want this matter to be finalised", Ramaphosa told a crowd of ANC supporters in Cape Town on Sunday.
"Nelson Mandela's objective in whatever he did was to see people of South Africa united".
"The centenary of the birth of Nelson Mandela gives us a great opportunity for renewal and rebuilding".
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Some within the ANC and the opposition say the Gupta family, friends of Zuma, have used their links with the president to win state contracts and influence cabinet appointments.
To carry out Mandela's legacy, the ANC must fight corruption, Ramaphosa said.
So, if he so wishes, Mr Zuma can carry on as president of South Africa even if the NEC asks him to step down.
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