JOHANNESBURG, June 26 Reuters The South African rand gained against the dollar on Monday, as investors watched for potential ripple effects of the aborted weekend mutiny in Russia.

At 1506 GMT, the rand traded at 18.6350 against the dollar , around 0.65 stronger than its previous close after jumping over 1 earlier.

The dollar was last trading 0.04 weaker against a basket of global currencies at 102.710.

The market impact of a shortlived rebellion by Russian mercenaries on Saturday was still unclear, analysts said, with global oil prices slightly higher on concerns about Russian stability and crude supply.

In local news, state utility Eskom said on Sunday that power cuts would be implemented at relatively low levels throughout the week, as fewer breakdowns at power stations had led to more generation capacity.

Many South Africans were facing power cuts of around 10 hours a day until recently, but there have been some signs of improvement in the last few weeks as the country grapples with its worst power crisis on record.

The rand is likely to remain volatile, influenced by global events more heavily currently, as lower loadshedding power cuts stages and President Ramaphosa39;s recent efforts to strike a more neutral balance in global geopolitics have been overshadowed, said Annabel Bishop, Investec39;s chief economist, in a research note.

German Foreign Minister Annalena Baerbock is due to visit South Africa on Tuesday and has said she would discuss the dramatic…