The Pula depreciated against the rand (2.3 percent), but appreciated against major currencies at the end of July 2018. It appreciated against the Chinese renminbi (5 percent); Japanese yen (2.3 percent); US dollar (1.7 percent); pound sterling (1.5 percent) and the euro (1.1 percent). In the twelve months to July 2018, the Pula appreciated against the Chinese renminbi (0.9 percent) and the rand (0.4 percent), but depreciated against the US dollar (0.7 percent); pound sterling (0.7 percent); euro (0.6 percent) and the Japanese yen (0.1 percent).