The Pula depreciated against the Japanese yen (2.1 percent), US dollar (1.6 percent), Chinese renminbi (0.3 percent) and rand (0.1 percent) but appreciated against the euro (2.3 percent) and pound sterling (1.7 percent) in May 2018. In the twelve months to May 2018, the Pula depreciated against the Chinese renminbi (2.3 percent), rand (1.2 percent) euro (0.8 percent) and pound sterling (0.4 percent) while appreciating against US dollar (3.7 percent) and Japanese yen (1.5 percent).