At the end of February 2017, the Pula appreciated against the euro (2.7 percent), pound (2.2 percent) US dollar (1.8 percent) and the yen (0.7 percent) while depreciating against the rand (2.3 percent). On an annual basis (twelve months to February 2017), the Pula appreciated against the pound (23.4 percent), euro (14.2 percent), US dollar (10.7 percent) and the yen (10.2 percent) but depreciated against the rand (11.4 percent).