The Pula appreciated against the rand (3.0 percent) while depreciating against euro (2.4 percent), US dollar (4.1 percent), pound (4.2 percent) and the yen (6.4 percent) in January. On an annual basis (twelve months to January 2014), the Pula appreciated against the rand (9.7 percent), but depreciated against the pound (15.1 percent), US dollar (11.5 percent), euro (11.4 percent), and the yen (0.3 percent).