In December, the Pula appreciated against the Japanese yen (6.5 percent), US dollar (2.0 percent), British pound (1.3 percent) and the euro (0.5 percent), while depreciated against the rand (1.5 percent). On an annual basis (twelve months to December 2012), the Pula depreciated against the pound (7.7 percent), euro (5.1 percent) and the US dollar (3.2 percent), while it appreciated against the yen (7.4 percent) and the  rand (0.4 percent).