In August, the Pula depreciated against the euro (3.6 percent), British pound (2.2 percent), US dollar (1.7 percent) and Japanese yen (1.5 percent) while it appreciated against the rand (2.0 percent). On an annual basis (twelve months to August 2012), the Pula depreciated against the US dollar (14.2 percent), yen (12.2 percent), pound (11.4 percent) and the euro (0.9 percent), but appreciated against the rand (3.0 percent).