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 109.0 in Dec 2025, compared with the number of 108.3 in the previous month.
  • Nigeria Real Effective Exchange Rate data is updated monthly and averaged 701.6 from Dec 1979 to Dec 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 24.2 % pa in Dec 2025.
  • The cash rate (Policy Rate: Month End) was set at 27.0 % pa in Dec 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 Dec 2025 in the chart:

Nigeria Real Effective Exchange Rate

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

Nigeria Real Effective Exchange Rate (REER: 2005=100: Month Avg: Nigeria) was 109.0 in Dec 2025, compared with the number of 108.3 in the previous month. See the table below for more data.

Last Previous Min Max Unit Frequency Range
109.0 Dec 2025 108.3 Nov 2025 51.4 Mar 1992 701.6 Sep 1984 2005=100 monthly Dec 1979 - Dec 2025

Real Effective Exchange Rate by Country Comparison

country/region Last Frequency Range
Algeria (2005=100) 98.5 Dec 2025 monthly Jan 1994 - Dec 2025
Argentina (2005=100) 58.6 Dec 2025 monthly Jan 1997 - Dec 2025
Armenia (2005=100) 240.6 Nov 2025 monthly Jan 1997 - Nov 2025
Australia (2005=100) 104.0 Dec 2025 monthly Jan 1994 - Dec 2025
Austria (2005=100) 106.2 Dec 2025 monthly Jan 1993 - Dec 2025
Azerbaijan (2005=100) 143.7 Dec 2025 monthly Jan 2005 - Dec 2025
Bahrain (2005=100) 92.5 Dec 2025 monthly Jan 1980 - Dec 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) 105.4 Dec 2025 monthly Jan 1993 - Dec 2025
Bolivia (2005=100) 48.8 Aug 2025 monthly Jan 1991 - Aug 2025
Bosnia and Herzegovina (2005=100) 97.9 Oct 2025 monthly Jan 2005 - Oct 2025
Botswana (Dec2018=100) 95.1 Sep 2025 monthly Dec 2009 - Sep 2025
Brazil (2005=100) 88.0 Oct 2025 monthly Jan 1988 - Oct 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) 106.7 Dec 2025 monthly Jan 1986 - Dec 2025
China (2005=100) 131.9 Dec 2025 monthly Jan 1994 - Dec 2025
Colombia (2005=100) 100.4 Nov 2025 monthly Jan 1990 - Nov 2025
Croatia (2005=100) 106.9 Dec 2025 monthly Jan 1993 - Dec 2025
Cyprus (2005=100) 90.0 Dec 2025 monthly Jan 1993 - Dec 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) 146.5 Dec 2025 monthly Jan 1993 - Dec 2025
European Union (2005=100) 95.2 Dec 2025 monthly Jan 1993 - Dec 2025
Finland (2005=100) 94.1 Dec 2025 monthly Jan 1993 - Dec 2025
France (2005=100) 91.0 Dec 2025 monthly Jan 1993 - Dec 2025
Georgia (2005=100) 127.9 Dec 2025 monthly Dec 1995 - Dec 2025
Germany (2005=100) 96.8 Dec 2025 monthly Jan 1993 - Dec 2025
Ghana (2005=100) 87.6 Dec 2025 monthly Dec 1979 - Dec 2025
Greece (2005=100) 95.9 Dec 2025 monthly Jan 1993 - Dec 2025
Hong Kong SAR, China (2005=100) 106.4 Dec 2025 monthly Jan 1994 - Dec 2025
Hungary (2005=100) 96.7 Nov 2025 monthly Jan 1990 - Nov 2025
Iceland (2005=100) 95.0 Dec 2025 monthly Jan 1979 - Dec 2025
India (2005=100) 104.7 Dec 2025 monthly Apr 2004 - Dec 2025
Indonesia (2005=100) 106.2 Dec 2025 monthly Jan 1994 - Dec 2025
Iran (2005=100) 1,422.0 Dec 2025 monthly Jan 1979 - Dec 2025
Ireland (2005=100) 86.5 Dec 2025 monthly Jan 1993 - Dec 2025
Israel (2005=100) 137.2 Dec 2025 monthly Jan 1994 - Dec 2025
Italy (2005=100) 94.0 Oct 2025 monthly Jan 1993 - Oct 2025
Ivory Coast (2005=100) 101.0 Dec 2025 monthly Dec 1979 - Dec 2025
Japan (2005=100) 53.7 Dec 2025 monthly Jan 1970 - Dec 2025
Kazakhstan (2005=100) 104.8 Nov 2025 monthly Jan 1995 - Nov 2025
Kenya (2005=100) 73.5 Aug 2015 monthly Oct 1997 - Aug 2015
South Korea (2005=100) 75.0 Dec 2025 monthly Jan 1994 - Dec 2025
Kosovo (Jan2007=100) 124.1 Nov 2025 monthly Dec 2006 - Nov 2025
Kyrgyzstan (2005=100) 139.4 Nov 2025 monthly Jan 2000 - Nov 2025
Latvia (2005=100) 131.1 Dec 2025 monthly Jan 1993 - Dec 2025
Lithuania (2005=100) 132.6 Dec 2025 monthly Jan 1993 - Dec 2025
Luxembourg (2005=100) 100.4 Dec 2025 monthly Jan 1993 - Dec 2025
North Macedonia (2005=100) 113.7 Sep 2025 monthly Jan 1993 - Sep 2025
Malawi (2010=100) 108.6 Dec 2025 monthly Dec 1979 - Dec 2025
Malaysia (2005=100) 96.4 Dec 2025 monthly Jan 1994 - Dec 2025
Malta (2005=100) 99.8 Dec 2025 monthly Jan 1993 - Dec 2025
Mexico (2005=100) 97.1 Nov 2025 monthly Jan 1968 - Nov 2025
Moldova (2005=100) 232.9 Dec 2025 monthly Nov 1993 - Dec 2025
Mongolia (2005=100) 126.8 Sep 2025 monthly Jan 2000 - Sep 2025
Morocco (2005=100) 95.4 Dec 2025 monthly Jan 1988 - Dec 2025
Netherlands (2005=100) 101.1 Dec 2025 monthly Jan 1993 - Dec 2025
New Zealand (2005=100) 91.7 Nov 2025 monthly Jan 1984 - Nov 2025
Nigeria (2005=100) 109.0 Dec 2025 monthly Dec 1979 - Dec 2025
Norway (2005=100) 75.3 Dec 2025 monthly Jan 1994 - Dec 2025
Pakistan (2010=100) 103.7 Dec 2025 monthly Jul 2001 - Dec 2025
Paraguay (2005=100) 61.6 Nov 2025 monthly Jan 1995 - Nov 2025
Peru (2005=100) 85.1 Dec 2025 monthly Jan 1991 - Dec 2025
Philippines (2005=100) 136.0 Dec 2025 monthly Jan 1993 - Dec 2025
Poland (2005=100) 120.4 Dec 2025 monthly Jan 1994 - Dec 2025
Portugal (2005=100) 94.8 Dec 2025 monthly Jan 1993 - Dec 2025
Romania (2005=100) 121.4 Dec 2025 monthly Jan 1994 - Dec 2025
Russia (2005=100) 116.7 Dec 2025 monthly Jan 1994 - Dec 2025
Saudi Arabia (2005=100) 124.1 Dec 2025 monthly Jan 1994 - Dec 2025
Serbia (2005=100) 146.7 Dec 2025 monthly Jan 2002 - Dec 2025
Singapore (2005=100) 136.0 Dec 2025 monthly Jan 1994 - Dec 2025
Slovakia (2005=100) 143.1 Dec 2025 monthly Jan 1993 - Dec 2025
Slovenia (2005=100) 102.6 Dec 2025 monthly Jan 1993 - Dec 2025
South Africa (2005=100) 91.3 Oct 2025 monthly Jan 1970 - Oct 2025
Spain (2005=100) 99.6 Dec 2025 monthly Jan 1993 - Dec 2025
Sri Lanka (2017=100) 71.3 Nov 2025 monthly Jan 2013 - Nov 2025
Sweden (2005=100) 82.7 Dec 2025 monthly Jan 1994 - Dec 2025
Switzerland (2005=100) 116.8 Dec 2025 monthly Jan 1973 - Dec 2025
Taiwan, China (2005=100) 92.5 Dec 2025 monthly Jan 1994 - Dec 2025
Thailand (2005=100) 124.8 Nov 2025 monthly Jan 1994 - Nov 2025
Tunisia (2005=100) 88.1 Dec 2025 monthly Jan 1979 - Dec 2025
Turkey (2005=100) 63.1 Dec 2025 monthly Jan 1994 - Dec 2025
Ukraine (2005=100) 83.8 Dec 2025 monthly Dec 1992 - Dec 2025
United Arab Emirates (2005=100) 121.3 Dec 2025 monthly Jan 1994 - Dec 2025
United Kingdom (2005=100) 88.9 Dec 2025 monthly Jan 1994 - Dec 2025
United States (Jan2006=100) 114.8 Dec 2025 monthly Jan 2006 - Dec 2025
Uruguay (2005=100) 44.6 Dec 2025 monthly Jan 2000 - Dec 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 Expenditure: Capital (NGN bn) 1,415.860 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Balance (NGN bn) -3,301.610 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue (NGN bn) 6,865.840 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: Oil (NGN bn) 1,304.960 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 (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) 464.626 Sep 2025 monthly Dec 2009 - Sep 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
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 (%) -17.535 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: Growth Rate: MoM (%) -17.669 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: America: ow USA (NGN mn) 201,983.472 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow UK (NGN mn) 180,704.134 Sep 2024 monthly Jan 2003 - 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: 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: Europe: ow UK (NGN mn) 134,085.602 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: Europe: ow Germany (NGN mn) 135,143.103 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: 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: 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) 992.7 Jun 2025 quarterly Mar 2008 - Jun 2025
Current Account Balance (USD mn) 5,281.7 Jun 2025 quarterly Mar 2014 - Jun 2025
Current Account Balance: % of GDP (%) 8.7 Jun 2025 quarterly Mar 2014 - Jun 2025
Foreign Direct Investment (USD mn) 85.1 Jun 2025 quarterly Mar 2014 - Jun 2025
Foreign Direct Investment: % of GDP (%) 0.1 Jun 2025 quarterly Mar 2010 - Jun 2025
Foreign Portfolio Investment (USD mn) 5,282.418 Jun 2025 quarterly Mar 2008 - Jun 2025
Foreign Portfolio Investment: % of GDP (%) 8.3 Jun 2025 quarterly Mar 2010 - Jun 2025
Foreign Portfolio Investment: Equity Securities (USD mn) 242.0 Jun 2025 quarterly Mar 2008 - Jun 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 5,040.443 Jun 2025 quarterly Mar 2008 - Jun 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) -68,546.495 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) 29,361.987 Dec 2025 monthly Apr 1990 - Dec 2025
Money Supply M2 (USD mn) 86,674.495 Dec 2025 monthly Apr 1990 - Dec 2025
M2 Growth (%) 9.8 Dec 2025 monthly Apr 1991 - Dec 2025
Reserve Requirement Ratio (%) 45.0 Dec 2025 monthly Nov 2005 - Dec 2025
Foreign Exchange Reserves (USD mn) 40,510.0 Jul 2025 monthly Jan 1960 - Jul 2025
Foreign Exchange Reserves: % of GDP (%) 15.039 Jun 2025 quarterly Dec 2010 - Jun 2025
Foreign Exchange Reserves: Months of Import (NA) 9.8 Jul 2025 monthly Jan 2003 - Jul 2025
Gold Reserves (USD mn) 2,277.659 Jun 2025 monthly Dec 1950 - Jun 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) 76,680.1 Dec 2025 monthly Apr 1990 - Dec 2025
Domestic Credit Growth (%) 4.7 Dec 2025 monthly Apr 1991 - Dec 2025
Private Debt: % of Nominal GDP (%) 15.41 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 42,142,000.420 Dec 2025 monthly Apr 1990 - Dec 2025
Monetary Survey: Liabilities: Base Money (NGN mn) 37,768,594.800 Dec 2025 monthly Apr 1990 - Dec 2025
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 82,258,184.590 Dec 2025 monthly Apr 1990 - Dec 2025
Monetary Survey: Liabilities: M2 (NGN mn) 124,400,185.000 Dec 2025 monthly Apr 1990 - Dec 2025
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
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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