Pula weakens against rand as market pressures persist

Friday, February 06, 2026 | 270 Views |

Watching the numbers: The central bank is tasked with defending the value of the Pula

The pula continued to lose ground against the South African rand in 2025, with economists warning that official exchange rates no longer fully reflect conditions in the foreign exchange market.

The Bank of Botswana (BoB) foreign exchange data shows that the pula depreciated by 0.9 percent against the rand in the fourth quarter of 2025, closing the year at ZAR1.29 to BWP 1.00, compared to R1.3094 to P1.00 at the end of the third quarter.

Over the same period, the pula recorded little movement against the US dollar, weakening marginally from P13.32 to P13.33.

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