Nigeria: Real effective exchange rate index (2010 = 100)

Key figures

What the numbers say

In 2025, Nigeria's real effective exchange rate index (2010 = 100) rose 10.02 on 2024 (from 64.01 to 74.02).

Across the 30 yearly changes before that (1995 to 2024), the average change was −1.22 and a typical year strayed about 43.08 from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 147.47 in 1984 and the biggest yearly fall was 218.94 in 1986. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 there is no clear straight-line trend: a straight line explains 21% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Nigeria had the 89th highest value of the 91 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Nigeria in the 2025 ranking

• Canada — 85th of 91: 78.3
• Colombia — 86th of 91: 77.03
• Norway — 87th of 91: 74.65
• South Africa — 89th of 91: 73.78
• Brazil — 90th of 91: 59.15
• Japan — 91st of 91: 56.07

What this measures

Real effective exchange rate is the nominal effective exchange rate (a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs. This indicator is an index series where 2010=100.

Limitations: Because of conceptual and data limitations, changes in real effective exchange rates should be interpreted with caution.

All 46 values

Real effective exchange rate index (2010 = 100) in nearby economies

• Burundi — 177.48 (2025)
• Cameroon — 112.86 (2025)
• Central African Republic — 128.12 (2025)
• Congo, Dem. Rep. — 139.31 (2025)
• Côte d'Ivoire — 100.9 (2025)
• Equatorial Guinea — 104.48 (2025)
• Gabon — 106.99 (2025)
• Gambia, The — 102.44 (2025)
• Ghana — 86.18 (2025)
• Lesotho

More financial sector data for Nigeria

• Broad money (current LCU) — 126.82 trillion (2025)
• Broad money (% of GDP) — 28.72% (2025)
• Broad money to total reserves ratio — 1.81 (2025)
• Consumer price index (2010 = 100) — 860.32 (2025)
• Inflation, consumer prices (annual % growth) — 23.01% (2025)
• GDP deflator (base year varies by country) — 194.92 (2025)
• DEC alternative conversion factor (LCU per US$) — US$1,518 (2025)
• Official exchange rate (LCU per US$, period average) — US$1,518 (2025)
• Broad money (annual % growth) — 11.87% (2025)
• Inflation, GDP deflator (annual % growth)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Nigeria's real effective exchange rate index (2010 = 100)?

74.02 in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1980?

It is down 74.33% from 288.33 in 1980 (2.98% a year on average, compounded). The highest value was 536.83 in 1984 and the lowest 49.77 in 1992.

How does Nigeria rank?

89th highest of 91 economies with data for 2025.

Is the latest change in real effective exchange rate index (2010 = 100) unusual for Nigeria?

In 2025, Nigeria's real effective exchange rate index (2010 = 100) rose 10.02 on 2024 (from 64.01 to 74.02). Across the 30 yearly changes before that (1995 to 2024), the average change was −1.22 and a typical year strayed about 43.08 from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator PX.REX.REER, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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