"President Ramaphosa's SONA address had absolutely zero impact on markets. Traders and investors are now waiting for the budget speech in two weeks' time," Andre Cilliers, currency strategist at TreasuryONE, said in a research note.

Finance Minister Enoch Godongwana will present this year's budget on Feb. 21, laying out the government's spending priorities, revenue collection measures and updated economic forecasts.

"The budget later this month ... is arguably a more important announcement given that it will contain details on ... what the country's finances look like. Until then, the dollar-rand pair is set to lack clear direction and will likely close the week out around current levels," ETM Analytics said on Friday.

At 0738 GMT, the rand traded at 18.9375 against the dollar, up 0.2% on its previous close.

The Johannesburg Stock Exchange's Top-40 index was flat.

(Reporting by Alexander Winning; Editing by Sonali Paul)