During January, the Pula depreciated against the US dollar (2.4 percent), the pound (2.7 percent) and the yen (5.1 percent) while it appreciated by 0.7 percent against the rand and the euro, respectively. On an annual basis the Pula appreciated against the pound (3.1percent), the euro (8.0 percent), US dollar (16.6 percent) and the yen (17.2 percent), while it depreciated against the rand (11.7 percent).