The Pula appreciated against the pound (4.1 percent), yen (3.3 percent), euro (2.4 percent) and the US dollar (2.4 percent while depreciating against the rand (2.6 percent) in July. On an annual basis (twelve months to July 2016), the Pula depreciated against the dollar (5.1 percent), euro (6.2 percent) and the yen (20.8 percent) but appreciated against the rand (5.7 percent) and the pound (12.3 percent).