Nigeria Real Effective Exchange Rate

1979 - 2024 | Monthly | 2005=100 | CEIC Data

Key information about Nigeria Real Effective Exchange Rate

  • Nigeria Real Effective Exchange Rate (REER: 2005=100: Month Avg: Nigeria) was 75.9 in Oct 2024, compared with the number of 73.5 in the previous month.
  • Nigeria Real Effective Exchange Rate data is updated monthly and averaged 701.5 from Dec 1979 to Oct 2024.
  • The data reached an all-time high of 701.5 in Sep 1984 and a record low of 51.4 in Mar 1992.

CEIC generates Real Effective Exchange Rate Index with base 2005=100. The International Monetary Fund provides Real Effective Exchange Rate with base 2010=100. CPI is used as a deflator. An increase in REER indicates reduced competitiveness for the reporting economy.


Related information about Nigeria Real Effective Exchange Rate

  • In the latest reports, Nigeria Short Term Interest Rate: Month End: NIBOR: 3 Months was reported at 26.4 % pa in Oct 2024.
  • The cash rate (Policy Rate: Month End) was set at 27.3 % pa in Oct 2024.
  • Nigeria Exchange Rate against USD averaged 607.7 (USD/NGN) in Jun 2023.

View Nigeria's Real Effective Exchange Rate from Dec 1979 to Oct 2024 in the chart:

Nigeria Real Effective Exchange Rate

What was Nigeria's Real Effective Exchange Rate in Oct 2024?

Nigeria Real Effective Exchange Rate (REER: 2005=100: Month Avg: Nigeria) was 75.9 in Oct 2024, compared with the number of 73.5 in the previous month. See the table below for more data.

Last Previous Min Max Unit Frequency Range
75.9 Oct 2024 73.5 Sep 2024 51.4 Mar 1992 701.5 Sep 1984 2005=100 monthly Dec 1979 - Oct 2024

Real Effective Exchange Rate by Country Comparison

country/region Last Frequency Range
Algeria (2005=100) 107.5 Nov 2024 monthly Jan 1994 - Nov 2024
Argentina (2005=100) 50.6 Nov 2024 monthly Jan 1997 - Nov 2024
Armenia (2005=100) 240.1 Oct 2024 monthly Jan 1997 - Oct 2024
Australia (2005=100) 103.6 Nov 2024 monthly Jan 1994 - Nov 2024
Austria (2005=100) 103.2 Oct 2024 monthly Jan 1993 - Oct 2024
Azerbaijan (2005=100) 148.7 Oct 2024 monthly Jan 2005 - Oct 2024
Bahrain (2005=100) 94.2 Oct 2024 monthly Jan 1980 - Oct 2024
Bangladesh (2015-2016=100) 102.0 2023 yearly 2011 - 2023
Belarus (2005=100) 101.0 Dec 2014 monthly Jan 1996 - Dec 2014
Belgium (2005=100) 102.7 Oct 2024 monthly Jan 1993 - Oct 2024
Bolivia (2005=100) 53.7 Sep 2024 monthly Jan 1991 - Sep 2024
Bosnia and Herzegovina (2005=100) 96.9 Sep 2024 monthly Jan 2005 - Sep 2024
Botswana (Dec2018=100) 97.1 Aug 2023 monthly Dec 2009 - Aug 2023
Brazil (2005=100) 82.0 Sep 2024 monthly Jan 1988 - Sep 2024
Bulgaria (2005=100) 129.1 Nov 2024 monthly Jan 1993 - Nov 2024
Canada (2005=100) 90.8 Sep 2024 monthly Jan 1999 - Sep 2024
Chile (2005=100) 109.2 Oct 2024 monthly Jan 1986 - Oct 2024
China (2005=100) 135.4 Nov 2024 monthly Jan 1994 - Nov 2024
Colombia (2005=100) 120.2 Nov 2024 monthly Jan 1990 - Nov 2024
Croatia (2005=100) 102.7 Oct 2024 monthly Jan 1993 - Oct 2024
Cyprus (2005=100) 92.1 Oct 2024 monthly Jan 1993 - Oct 2024
Czech Republic (2005=100) 152.4 May 2023 monthly Jan 1995 - May 2023
Denmark (2005=100) 97.3 Sep 2024 monthly Jan 1970 - Sep 2024
Ecuador (2007=100) 110.3 Nov 2017 monthly Jan 2011 - Nov 2017
Estonia (2005=100) 143.1 Oct 2024 monthly Jan 1993 - Oct 2024
European Union (2005=100) 91.2 Nov 2024 monthly Jan 1993 - Nov 2024
Finland (2005=100) 94.0 Oct 2024 monthly Jan 1993 - Oct 2024
France (2005=100) 90.5 Oct 2024 monthly Jan 1993 - Oct 2024
Georgia (2005=100) 132.8 Oct 2024 monthly Dec 1995 - Oct 2024
Germany (2005=100) 94.9 Oct 2024 monthly Jan 1993 - Oct 2024
Ghana (2005=100) 62.3 Oct 2024 monthly Dec 1979 - Oct 2024
Greece (2005=100) 94.1 Oct 2024 monthly Jan 1993 - Oct 2024
Hong Kong SAR, China (2005=100) 110.2 Nov 2024 monthly Jan 1994 - Nov 2024
Hungary (2005=100) 103.4 Oct 2024 monthly Jan 1990 - Oct 2024
Iceland (2005=100) 91.7 Nov 2024 monthly Jan 1979 - Nov 2024
India (2005=100) 117.8 Oct 2024 monthly Apr 2004 - Oct 2024
Indonesia (2005=100) 113.8 Nov 2024 monthly Jan 1994 - Nov 2024
Iran (2005=100) 901.3 Oct 2024 monthly Jan 1979 - Oct 2024
Ireland (2005=100) 83.0 Oct 2024 monthly Jan 1993 - Oct 2024
Israel (2005=100) 123.9 Nov 2024 monthly Jan 1994 - Nov 2024
Italy (2005=100) 94.5 Jun 2023 monthly Jan 1993 - Jun 2023
Ivory Coast (2005=100) 97.9 Oct 2024 monthly Dec 1979 - Oct 2024
Japan (2005=100) 55.7 Oct 2024 monthly Jan 1970 - Oct 2024
Kazakhstan (2005=100) 101.1 Oct 2024 monthly Jan 1995 - Oct 2024
Kenya (2005=100) 73.5 Aug 2015 monthly Oct 1997 - Aug 2015
South Korea (2005=100) 80.9 Nov 2024 monthly Jan 1994 - Nov 2024
Kosovo (Jan2007=100) 118.2 Sep 2024 monthly Dec 2006 - Sep 2024
Kyrgyzstan (2005=100) 142.5 Oct 2024 monthly Jan 2000 - Oct 2024
Latvia (2005=100) 130.9 Oct 2024 monthly Jan 1993 - Oct 2024
Lithuania (2005=100) 131.2 Oct 2024 monthly Jan 1993 - Oct 2024
Luxembourg (2005=100) 97.9 Oct 2024 monthly Jan 1993 - Oct 2024
North Macedonia (2005=100) 111.5 May 2023 monthly Jan 1993 - May 2023
Malawi (2010=100) 89.6 Oct 2024 monthly Dec 1979 - Oct 2024
Malaysia (2005=100) 91.8 Nov 2024 monthly Jan 1994 - Nov 2024
Malta (2005=100) 97.0 Oct 2024 monthly Jan 1993 - Oct 2024
Mexico (2005=100) 101.9 Oct 2024 monthly Jan 1968 - Oct 2024
Moldova (2005=100) 233.0 Oct 2024 monthly Nov 1993 - Oct 2024
Mongolia (2005=100) 123.0 Oct 2024 monthly Jan 2000 - Oct 2024
Morocco (2005=100) 98.7 Oct 2024 monthly Jan 1988 - Oct 2024
Netherlands (2005=100) 98.2 Oct 2024 monthly Jan 1993 - Oct 2024
New Zealand (2005=100) 97.0 Oct 2024 monthly Jan 1984 - Oct 2024
Nigeria (2005=100) 75.9 Oct 2024 monthly Dec 1979 - Oct 2024
Norway (2005=100) 73.6 Nov 2024 monthly Jan 1994 - Nov 2024
Pakistan (2010=100) 98.8 Dec 2023 monthly Jan 2013 - Dec 2023
Paraguay (2005=100) 71.3 Oct 2024 monthly Jan 1995 - Oct 2024
Peru (2005=100) 92.0 Nov 2024 monthly Jan 1991 - Nov 2024
Philippines (2005=100) 138.4 Nov 2024 monthly Jan 1993 - Nov 2024
Poland (2005=100) 115.2 Nov 2024 monthly Jan 1994 - Nov 2024
Portugal (2005=100) 93.9 Oct 2024 monthly Jan 1993 - Oct 2024
Romania (2005=100) 113.9 Nov 2024 monthly Jan 1994 - Nov 2024
Russia (2005=100) 91.7 Nov 2024 monthly Jan 1994 - Nov 2024
Saudi Arabia (2005=100) 127.9 Nov 2024 monthly Jan 1994 - Nov 2024
Serbia (2005=100) 143.5 Oct 2024 monthly Jan 2002 - Oct 2024
Singapore (2005=100) 135.5 Nov 2024 monthly Jan 1994 - Nov 2024
Slovakia (2005=100) 139.7 Nov 2024 monthly Jan 1993 - Nov 2024
Slovenia (2005=100) 100.8 Oct 2024 monthly Jan 1993 - Oct 2024
South Africa (2005=100) 90.2 Sep 2024 monthly Jan 1970 - Sep 2024
Spain (2005=100) 96.6 Oct 2024 monthly Jan 1993 - Oct 2024
Sri Lanka (2017=100) 73.6 Oct 2024 monthly Jan 2013 - Oct 2024
Sweden (2005=100) 77.5 Nov 2024 monthly Jan 1994 - Nov 2024
Switzerland (2005=100) 114.9 Nov 2024 monthly Jan 1973 - Nov 2024
Taiwan (2005=100) 92.9 Nov 2024 monthly Jan 1994 - Nov 2024
Thailand (2005=100) 124.6 Oct 2024 monthly Jan 1994 - Oct 2024
Tunisia (2005=100) 84.8 Oct 2024 monthly Jan 1979 - Oct 2024
Turkey (2005=100) 59.5 Nov 2024 monthly Jan 1994 - Nov 2024
Ukraine (2005=100) 83.8 Oct 2024 monthly Dec 1992 - Oct 2024
United Arab Emirates (2005=100) 127.3 Nov 2024 monthly Jan 1994 - Nov 2024
United Kingdom (2005=100) 88.7 Nov 2024 monthly Jan 1994 - Nov 2024
United States (Jan2006=100) 119.8 Nov 2024 monthly Jan 2006 - Nov 2024
Uruguay (2005=100) 47.4 Oct 2024 monthly Jan 2000 - Oct 2024
Venezuela (2005=100) 0.8 Feb 2019 monthly Jan 1994 - Feb 2019
Zambia (2005=100) 120.8 Jul 2024 monthly Jan 2013 - Jul 2024

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Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Jun 2024 quarterly Dec 2010 - Jun 2024
Consolidated Fiscal Balance (USD mn) -3,274.101 Jun 2024 quarterly Mar 2005 - Jun 2024
National Government Debt (USD mn) 88,444.7 Jun 2024 quarterly Dec 2006 - Jun 2024
Government Debt: % of GDP (%) 52.8 Jun 2024 quarterly Dec 2010 - Jun 2024
Forecast: Government Expenditure (NGN bn) 100,505.650 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 285,181.495 2029 yearly 1990 - 2029
Forecast: Government Revenue (NGN bn) 72,588.069 2029 yearly 1990 - 2029
Federal Govt Balance (NGN bn) -4,533.420 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure (NGN bn) 6,838.960 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Capital (NGN bn) 250.290 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue (NGN bn) 6,285.040 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Revenue (NGN bn) 2,305.540 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,733.500 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Recurrent (NGN bn) 6,152.970 Jun 2024 quarterly Mar 2005 - Jun 2024
Government Debt: Domestic (NGN bn) 66,957.878 Jun 2024 quarterly Dec 2005 - Jun 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,027.6 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports (USD mn) 3,738.1 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports Growth (%) 56.4 Sep 2024 monthly Jan 2004 - Sep 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 1,530.686 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 329.199 2023 yearly 1995 - 2023
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 62.9 Sep 2024 monthly Jan 2004 - Sep 2024
Imports: Medicament (USD th) 614,222.259 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 227,440.624 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 124.857 Sep 2024 monthly Jan 2003 - Sep 2024
Total Imports from USA (USD mn) 275.937 Sep 2024 monthly Dec 2009 - Sep 2024
Total Exports to China (USD mn) 105.763 Sep 2024 monthly Jan 2007 - Sep 2024
Total Imports from China (USD mn) 802.488 Sep 2024 monthly Jan 2007 - Sep 2024
Imports (NGN mn) 4,384,900.258 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Crude Oil (NGN mn) 3,905,247.850 Sep 2024 monthly Jan 2003 - Sep 2024
Total Trade (NGN mn) 10,432,090.965 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Growth Rate: MoM (%) -35.341 Jun 2024 monthly Jan 2019 - Jun 2024
Exports: Growth Rate: MoM (%) 10.446 Jun 2024 monthly Jan 2019 - Jun 2024
Exports (NGN mn) 6,047,190.706 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow Netherlands (NGN mn) 261,930.167 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow UK (NGN mn) 180,704.134 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: America: ow USA (NGN mn) 201,983.472 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Imports: Europe: ow UK (NGN mn) 134,085.602 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Germany (NGN mn) 135,143.103 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: America: ow USA (NGN mn) 446,388.165 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Netherlands (NGN mn) 201,091.335 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Asia: ow China (NGN mn) 1,298,198.961 Sep 2024 monthly Jan 2007 - Sep 2024
Imports: Manufactured Goods (NGN mn) 488,494.173 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,024,863.121 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Chemicals and Chemical Products (NGN mn) 614,100.231 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Food and Live Animals (NGN mn) 455,343.676 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Machinery and Transport Equipment (NGN mn) 1,432,150.870 Sep 2024 monthly Jan 2003 - Sep 2024
Export Value Index (2015=100) 93.461 2021 yearly 1980 - 2021
Import Value Index (2015=100) 116.198 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -831.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Current Account Balance (USD mn) 5,142.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.3 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 10.0 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -309.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 4,726.039 Jun 2024 quarterly Mar 2008 - Jun 2024
External Debt (USD mn) 42,901.0 Jun 2024 quarterly Dec 2006 - Jun 2024
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) -5.481 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -86,263.760 2023 yearly 2005 - 2023
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 42,901.010 Jun 2024 quarterly Dec 2006 - Jun 2024
External Debt: Government: International Capital Market (USD mn) 15,118.350 Jun 2024 quarterly Mar 2011 - Jun 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 21,896.535 Aug 2024 monthly Nov 1992 - Aug 2024
Money Supply M2 (USD mn) 67,150.889 Aug 2024 monthly Nov 1992 - Aug 2024
M2 Growth (%) 63.3 Aug 2024 monthly Nov 1993 - Aug 2024
Reserve Requirement Ratio (%) 50.0 Nov 2024 monthly Nov 2005 - Nov 2024
Foreign Exchange Reserves (USD mn) 35,920.0 Aug 2024 monthly Jan 1960 - Aug 2024
Foreign Exchange Reserves: % of GDP (%) 14.124 Jun 2024 quarterly Dec 2010 - Jun 2024
Foreign Exchange Reserves: Months of Import (NA) 10.7 Aug 2024 monthly Jan 2003 - Aug 2024
Gold Reserves (USD mn) 1,599.957 Jun 2024 monthly Dec 1950 - Jun 2024
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 73,616.6 Sep 2024 monthly Nov 1992 - Sep 2024
Domestic Credit Growth (%) 33.3 Aug 2024 monthly Nov 1993 - Aug 2024
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 72,232,284.010 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Monetary Survey: Liabilities: Base Money (NGN mn) 26,891,229.280 Aug 2024 monthly Jan 1993 - Aug 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 34,949,935.480 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M2 (NGN mn) 107,182,219.490 Aug 2024 monthly Nov 1992 - Aug 2024
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 4.4 Nov 2024 monthly Jul 2015 - Nov 2024

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