Pula reaches three-year high against Rand

The latest figures continues a trend that has dominated since the New Year in which the Pula has appreciated by three percent compared to a depreciation of 1.5 percent in December 2012. Last year, the Pula gained 0.4 percent in value against the Rand.

Central bank figures indicate that the Pula has generally trended stronger against the Rand since the second half of 2012, recovering from a period in which it was pegged at 96 thebe to the South African currency on March 20 last year.Prior to the second half of last year, the Pula appeared to be drifting towards parity with the Rand, a situation that would have gradually stagnated the local economy mainly through inflation.