The Pula depreciated against the US dollar (6.3 percent), euro (5.9 percent), British pound (4.6 percent) and the yen (3.2 percent), while appreciating against the rand (5.0 percent) in May. On an annual basis (twelve months to May 2013), the Pula depreciated against the euro (13.6 percent), US dollar (9.3 percent), and the pound (7.5 percent) while it appreciated against the yen (16.3 percent) and the rand (7.2 percent).