Nigeria Real Effective Exchange Rate

1979 - 2025 | 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 96.5 in Sep 2025, compared with the number of 94.6 in the previous month.
  • Nigeria Real Effective Exchange Rate data is updated monthly and averaged 701.6 from Dec 1979 to Sep 2025.
  • The data reached an all-time high of 701.6 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 2025.
  • The cash rate (Policy Rate: Month End) was set at 27.0 % pa in Nov 2025.
  • Nigeria Exchange Rate against USD averaged 1,443.4 (USD/NGN) in Nov 2025.

View Nigeria's Real Effective Exchange Rate from Dec 1979 to Sep 2025 in the chart:

Nigeria Real Effective Exchange Rate

What was Nigeria's Real Effective Exchange Rate in Sep 2025?

Nigeria Real Effective Exchange Rate (REER: 2005=100: Month Avg: Nigeria) was 96.5 in Sep 2025, compared with the number of 94.6 in the previous month. See the table below for more data.

Last Previous Min Max Unit Frequency Range
96.5 Sep 2025 94.6 Aug 2025 51.4 Mar 1992 701.6 Sep 1984 2005=100 monthly Dec 1979 - Sep 2025

Real Effective Exchange Rate by Country Comparison

country/region Last Frequency Range
Algeria (2005=100) 100.3 Oct 2025 monthly Jan 1994 - Oct 2025
Argentina (2005=100) 59.4 Nov 2025 monthly Jan 1997 - Nov 2025
Armenia (2005=100) 241.5 Sep 2025 monthly Jan 1997 - Sep 2025
Australia (2005=100) 102.4 Oct 2025 monthly Jan 1994 - Oct 2025
Austria (2005=100) 105.9 Nov 2025 monthly Jan 1993 - Nov 2025
Azerbaijan (2005=100) 142.9 Sep 2025 monthly Jan 2005 - Sep 2025
Bahrain (2005=100) 90.6 Sep 2025 monthly Jan 1980 - Sep 2025
Bangladesh (2015-2016=100) 99.5 2024 yearly 2011 - 2024
Belarus (2005=100) 101.0 Dec 2014 monthly Jan 1996 - Dec 2014
Belgium (2005=100) 105.0 Nov 2025 monthly Jan 1993 - Nov 2025
Bolivia (2005=100) 48.8 Aug 2025 monthly Jan 1991 - Aug 2025
Bosnia and Herzegovina (2005=100) 98.1 Sep 2025 monthly Jan 2005 - Sep 2025
Botswana (Dec2018=100) 95.1 Sep 2025 monthly Dec 2009 - Sep 2025
Brazil (2005=100) 87.9 Sep 2025 monthly Jan 1988 - Sep 2025
Bulgaria (2005=100) 132.1 Nov 2025 monthly Jan 1993 - Nov 2025
Canada (2005=100) 87.7 Sep 2025 monthly Jan 1999 - Sep 2025
Chile (2005=100) 110.6 Oct 2025 monthly Jan 1986 - Oct 2025
China (2005=100) 130.0 Oct 2025 monthly Jan 1994 - Oct 2025
Colombia (2005=100) 100.4 Nov 2025 monthly Jan 1990 - Nov 2025
Croatia (2005=100) 105.8 Oct 2025 monthly Jan 1993 - Oct 2025
Cyprus (2005=100) 88.9 Oct 2025 monthly Jan 1993 - Oct 2025
Czech Republic (2005=100) 149.2 Oct 2025 monthly Jan 1995 - Oct 2025
Denmark (2005=100) 98.9 Sep 2025 monthly Jan 1970 - Sep 2025
Ecuador (2007=100) 110.3 Nov 2017 monthly Jan 2011 - Nov 2017
Estonia (2005=100) 146.6 Nov 2025 monthly Jan 1993 - Nov 2025
European Union (2005=100) 94.8 Nov 2025 monthly Jan 1993 - Nov 2025
Finland (2005=100) 94.5 Nov 2025 monthly Jan 1993 - Nov 2025
France (2005=100) 91.0 Nov 2025 monthly Jan 1993 - Nov 2025
Georgia (2005=100) 128.1 Oct 2025 monthly Dec 1995 - Oct 2025
Germany (2005=100) 96.8 Nov 2025 monthly Jan 1993 - Nov 2025
Ghana (2005=100) 81.9 Sep 2025 monthly Dec 1979 - Sep 2025
Greece (2005=100) 94.9 Nov 2025 monthly Jan 1993 - Nov 2025
Hong Kong SAR, China (2005=100) 107.1 Oct 2025 monthly Jan 1994 - Oct 2025
Hungary (2005=100) 98.2 Oct 2025 monthly Jan 1990 - Oct 2025
Iceland (2005=100) 98.2 Oct 2025 monthly Jan 1979 - Oct 2025
India (2005=100) 107.1 Oct 2025 monthly Apr 2004 - Oct 2025
Indonesia (2005=100) 106.4 Oct 2025 monthly Jan 1994 - Oct 2025
Iran (2005=100) 1,240.2 Sep 2025 monthly Jan 1979 - Sep 2025
Ireland (2005=100) 86.5 Nov 2025 monthly Jan 1993 - Nov 2025
Israel (2005=100) 135.4 Oct 2025 monthly Jan 1994 - Oct 2025
Italy (2005=100) 94.0 Oct 2025 monthly Jan 1993 - Oct 2025
Ivory Coast (2005=100) 101.5 Sep 2025 monthly Dec 1979 - Sep 2025
Japan (2005=100) 54.9 Oct 2025 monthly Jan 1970 - Oct 2025
Kazakhstan (2005=100) 99.1 Oct 2025 monthly Jan 1995 - Oct 2025
Kenya (2005=100) 73.5 Aug 2015 monthly Oct 1997 - Aug 2015
South Korea (2005=100) 77.4 Oct 2025 monthly Jan 1994 - Oct 2025
Kosovo (Jan2007=100) 122.8 Sep 2025 monthly Dec 2006 - Sep 2025
Kyrgyzstan (2005=100) 139.6 Oct 2025 monthly Jan 2000 - Oct 2025
Latvia (2005=100) 131.7 Nov 2025 monthly Jan 1993 - Nov 2025
Lithuania (2005=100) 132.3 Oct 2025 monthly Jan 1993 - Oct 2025
Luxembourg (2005=100) 100.3 Nov 2025 monthly Jan 1993 - Nov 2025
North Macedonia (2005=100) 113.7 Sep 2025 monthly Jan 1993 - Sep 2025
Malawi (2010=100) 106.3 Sep 2025 monthly Dec 1979 - Sep 2025
Malaysia (2005=100) 93.8 Oct 2025 monthly Jan 1994 - Oct 2025
Malta (2005=100) 99.5 Nov 2025 monthly Jan 1993 - Nov 2025
Mexico (2005=100) 99.8 Aug 2025 monthly Jan 1968 - Aug 2025
Moldova (2005=100) 236.5 Sep 2025 monthly Nov 1993 - Sep 2025
Mongolia (2005=100) 126.8 Sep 2025 monthly Jan 2000 - Sep 2025
Morocco (2005=100) 98.9 Sep 2025 monthly Jan 1988 - Sep 2025
Netherlands (2005=100) 101.3 Oct 2025 monthly Jan 1993 - Oct 2025
New Zealand (2005=100) 93.0 Oct 2025 monthly Jan 1984 - Oct 2025
Nigeria (2005=100) 96.5 Sep 2025 monthly Dec 1979 - Sep 2025
Norway (2005=100) 76.1 Oct 2025 monthly Jan 1994 - Oct 2025
Pakistan (2010=100) 104.0 Oct 2025 monthly Jul 2001 - Oct 2025
Paraguay (2005=100) 61.8 Oct 2025 monthly Jan 1995 - Oct 2025
Peru (2005=100) 85.0 Nov 2025 monthly Jan 1991 - Nov 2025
Philippines (2005=100) 136.3 Nov 2025 monthly Jan 1993 - Nov 2025
Poland (2005=100) 119.3 Oct 2025 monthly Jan 1994 - Oct 2025
Portugal (2005=100) 94.5 Nov 2025 monthly Jan 1993 - Nov 2025
Romania (2005=100) 120.3 Oct 2025 monthly Jan 1994 - Oct 2025
Russia (2005=100) 112.7 Oct 2025 monthly Jan 1994 - Oct 2025
Saudi Arabia (2005=100) 124.2 Oct 2025 monthly Jan 1994 - Oct 2025
Serbia (2005=100) 145.8 Sep 2025 monthly Jan 2002 - Sep 2025
Singapore (2005=100) 134.4 Oct 2025 monthly Jan 1994 - Oct 2025
Slovakia (2005=100) 142.3 Nov 2025 monthly Jan 1993 - Nov 2025
Slovenia (2005=100) 102.1 Nov 2025 monthly Jan 1993 - Nov 2025
South Africa (2005=100) 89.9 Sep 2025 monthly Jan 1970 - Sep 2025
Spain (2005=100) 99.0 Nov 2025 monthly Jan 1993 - Nov 2025
Sri Lanka (2017=100) 71.9 Oct 2025 monthly Jan 2013 - Oct 2025
Sweden (2005=100) 82.2 Oct 2025 monthly Jan 1994 - Oct 2025
Switzerland (2005=100) 117.5 Oct 2025 monthly Jan 1973 - Oct 2025
Taiwan, China (2005=100) 95.3 Oct 2025 monthly Jan 1994 - Oct 2025
Thailand (2005=100) 123.3 Oct 2025 monthly Jan 1994 - Oct 2025
Tunisia (2005=100) 87.3 Sep 2025 monthly Jan 1979 - Sep 2025
Turkey (2005=100) 63.7 Nov 2025 monthly Jan 1994 - Nov 2025
Ukraine (2005=100) 85.5 Sep 2025 monthly Dec 1992 - Sep 2025
United Arab Emirates (2005=100) 121.6 Oct 2025 monthly Jan 1994 - Oct 2025
United Kingdom (2005=100) 89.1 Oct 2025 monthly Jan 1994 - Oct 2025
United States (Jan2006=100) 115.7 Oct 2025 monthly Jan 2006 - Oct 2025
Uruguay (2005=100) 44.9 Oct 2025 monthly Jan 2000 - Oct 2025
Venezuela (2005=100) 0.8 Feb 2019 monthly Jan 1994 - Feb 2019
Zambia (2005=100) 95.9 Aug 2025 monthly Jan 2013 - Aug 2025

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Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.0 Dec 2024 quarterly Dec 2010 - Dec 2024
Consolidated Fiscal Balance (USD mn) -1,902.660 Dec 2024 quarterly Mar 2005 - Dec 2024
National Government Debt (USD mn) 97,066.2 Jun 2025 quarterly Dec 2006 - Jun 2025
Government Debt: % of GDP (%) 37.5 Jun 2025 quarterly Dec 2010 - Jun 2025
Forecast: Government Expenditure (NGN bn) 109,186.865 2030 yearly 1990 - 2030
Forecast: Government Net Debt (NGN bn) 295,803.687 2030 yearly 1990 - 2030
Forecast: Government Revenue (NGN bn) 80,747.215 2030 yearly 1990 - 2030
Federal Govt Balance (NGN bn) -3,301.610 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Capital (NGN bn) 1,415.860 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Revenue (NGN bn) 2,282.540 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Recurrent (NGN bn) 3,732.590 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue (NGN bn) 6,865.840 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,304.960 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure (NGN bn) 5,584.150 Sep 2024 quarterly Mar 2005 - Sep 2024
Government Debt: Domestic (NGN bn) 69,219.806 Sep 2024 quarterly Dec 2005 - Sep 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 2,213.2 Jun 2025 monthly Jan 2003 - Jun 2025
Total Exports (USD mn) 4,858.0 Jun 2025 monthly Jan 2003 - Jun 2025
Total Exports Growth (%) 22.6 Jun 2025 monthly Jan 2004 - Jun 2025
Aluminum: Exports (USD th) 242,851.843 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 2,102.688 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 578.589 2024 yearly 1995 - 2024
Total Imports (USD mn) 2,644.8 Jun 2025 monthly Jan 2003 - Jun 2025
Total Imports Growth (%) 2.5 Jun 2025 monthly Jan 2004 - Jun 2025
Imports: Medicament (USD th) 605,905.663 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 335,165.261 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 264.685 Jun 2025 monthly Jan 2003 - Jun 2025
Total Imports from USA (USD mn) 503.329 Jun 2025 monthly Dec 2009 - Jun 2025
Total Exports to China (USD mn) 174.147 Jun 2025 monthly Jan 2007 - Jun 2025
Total Imports from China (USD mn) 1,013.525 Jun 2025 monthly Jan 2007 - Jun 2025
Exports: Crude Oil (NGN mn) 3,905,247.850 Sep 2024 monthly Jan 2003 - Sep 2024
Imports (NGN mn) 4,384,900.258 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 (%) -17.535 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: Growth Rate: MoM (%) -17.669 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: Europe: ow Netherlands (NGN mn) 261,930.167 Sep 2024 monthly Jan 2003 - Sep 2024
Exports (NGN mn) 6,047,190.706 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: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Imports: Asia: ow China (NGN mn) 1,298,198.961 Sep 2024 monthly Jan 2007 - Sep 2024
Imports: Europe: ow Netherlands (NGN mn) 201,091.335 Sep 2024 monthly Jan 2003 - Sep 2024
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: 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: 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
Imports: Chemicals and Chemical Products (NGN mn) 614,100.231 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) -551.1 Mar 2025 quarterly Mar 2008 - Mar 2025
Current Account Balance (USD mn) 3,726.7 Mar 2025 quarterly Mar 2014 - Mar 2025
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 246.9 Mar 2025 quarterly Mar 2014 - Mar 2025
Foreign Direct Investment: % of GDP (%) 0.4 Mar 2025 quarterly Mar 2010 - Mar 2025
Foreign Portfolio Investment (USD mn) -5,026.384 Mar 2025 quarterly Mar 2008 - Mar 2025
Foreign Portfolio Investment: % of GDP (%) -8.1 Mar 2025 quarterly Mar 2010 - Mar 2025
Foreign Portfolio Investment: Equity Securities (USD mn) -133.9 Mar 2025 quarterly Mar 2008 - Mar 2025
Foreign Portfolio Investment: Debt Securities (USD mn) -4,892.510 Mar 2025 quarterly Mar 2008 - Mar 2025
External Debt (USD mn) 46,983.4 Jun 2025 quarterly Dec 2006 - Jun 2025
External Debt: % of GDP (%) 18.6 2024 yearly 1985 - 2024
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) 2.643 2030 yearly 1980 - 2030
Net International Investment Position (USD mn) -68,555.096 2024 yearly 2005 - 2024
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 43,026.550 Sep 2024 quarterly Dec 2006 - Sep 2024
External Debt: Government: International Capital Market (USD mn) 15,118.350 Sep 2024 quarterly Mar 2011 - Sep 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) 27,684.996 Oct 2025 monthly Apr 1990 - Oct 2025
Money Supply M2 (USD mn) 83,749.939 Oct 2025 monthly Apr 1990 - Oct 2025
M2 Growth (%) 10.2 Oct 2025 monthly Apr 1991 - Oct 2025
Reserve Requirement Ratio (%) 45.0 Oct 2025 monthly Nov 2005 - Oct 2025
Foreign Exchange Reserves (USD mn) 38,880.0 Jan 2025 monthly Jan 1960 - Jan 2025
Foreign Exchange Reserves: % of GDP (%) 16.359 Dec 2024 quarterly Dec 2010 - Dec 2024
Foreign Exchange Reserves: Months of Import (NA) 10.9 Jan 2025 monthly Jan 2003 - Jan 2025
Gold Reserves (USD mn) 2,152.409 Mar 2025 monthly Dec 1950 - Mar 2025
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) 69,798.2 Oct 2025 monthly Apr 1990 - Oct 2025
Domestic Credit Growth (%) -12.6 Oct 2025 monthly Apr 1991 - Oct 2025
Private Debt: % of Nominal GDP (%) 15.41 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 74,077,851.830 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: Base Money (NGN mn) 32,659,076.490 Jan 2025 monthly Jan 1993 - Jan 2025
Monetary Survey: Liabilities: M2: M1 (NGN mn) 36,894,418.660 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Monetary Survey: Liabilities: M2 (NGN mn) 110,972,270.500 Jan 2025 monthly Nov 1992 - Jan 2025
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) 8.6 Nov 2025 monthly Jul 2015 - Nov 2025

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