Gordhan said South Africa is currently using reserve building and currency swap operations to control the rand, which strengthened almost 5% against the dollar this year.
Powerful trade unions have led calls to tame the currency via capital inflows tax, but Gordhan said the finance ministry was studying other countries' experiences on this.
"We will study all pros and cons and evaluate. We said in February we will assist the Reserve Bank in buying reserves. At present we are using two options - buying reserves and engaging in swaps."
Union federation Cosatu said on Tuesday that a non-inflationary way to build reserves would be for South Africa to accumulate gold from the mining companies, which it wants to nationalise.
Gordhan said mine nationalisation "is not government policy. Of course in a democracy you have a right to express your point of view and these will be debated, but we don't foresee any government policy change on this issue."
The ANC has maintained investor-friendly policies, but rising unemployment and chronic poverty is piling pressure on the party to show its policies are worth pursuing.
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