Real effective exchange rate index in Nigeria
Nigeria: Real effective exchange rate index was 119.74 line rec, 2005 = 100 in 2011. ◆ Volatile
Real effective exchange rate index in Nigeria, 1980–2011
Source: International Monetary Fund, International Financial Statistics. Measured in line rec, 2005 = 100.
Analysis
In 2011, real effective exchange rate index in Nigeria stood at 119.74 line rec, 2005 = 100.
Compared with earlier readings it is up 1.5% on the previous year and up 32.4% over ten years.
Over the whole period, real effective exchange rate index in Nigeria peaked at 638.53 line rec, 2005 = 100 in 1984 and was at its lowest, 58.15 line rec, 2005 = 100, in 1992.
That places Nigeria 4th out of 20 countries with data for 2011, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Real effective exchange rate index in Nigeria, year by year
| Year | line rec, 2005 = 100 | Change |
|---|---|---|
| 1980 | 343.41 line rec, 2005 = 100 | — |
| 1981 | 381.03 line rec, 2005 = 100 | +11.0% |
| 1982 | 390.15 line rec, 2005 = 100 | +2.4% |
| 1983 | 462.16 line rec, 2005 = 100 | +18.5% |
| 1984 | 638.53 line rec, 2005 = 100 | +38.2% |
| 1985 | 572.54 line rec, 2005 = 100 | -10.3% |
| 1986 | 312.6 line rec, 2005 = 100 | -45.4% |
| 1987 | 99.63 line rec, 2005 = 100 | -68.1% |
| 1988 | 100.15 line rec, 2005 = 100 | +0.5% |
| 1989 | 89.17 line rec, 2005 = 100 | -11.0% |
| 1990 | 82.7 line rec, 2005 = 100 | -7.3% |
| 1991 | 70.11 line rec, 2005 = 100 | -15.2% |
| 1992 | 58.15 line rec, 2005 = 100 | -17.1% |
| 1993 | 63.72 line rec, 2005 = 100 | +9.6% |
| 1994 | 118.33 line rec, 2005 = 100 | +85.7% |
| 1995 | 100.31 line rec, 2005 = 100 | -15.2% |
| 1996 | 123.52 line rec, 2005 = 100 | +23.1% |
| 1997 | 143.32 line rec, 2005 = 100 | +16.0% |
| 1998 | 159.43 line rec, 2005 = 100 | +11.2% |
| 1999 | 80.3 line rec, 2005 = 100 | -49.6% |
| 2000 | 81.37 line rec, 2005 = 100 | +1.3% |
| 2001 | 90.46 line rec, 2005 = 100 | +11.2% |
| 2002 | 90.27 line rec, 2005 = 100 | -0.2% |
| 2003 | 85.32 line rec, 2005 = 100 | -5.5% |
| 2004 | 87.58 line rec, 2005 = 100 | +2.7% |
| 2005 | 100 line rec, 2005 = 100 | +14.2% |
| 2006 | 106.95 line rec, 2005 = 100 | +7.0% |
| 2007 | 104.81 line rec, 2005 = 100 | -2.0% |
| 2008 | 116.39 line rec, 2005 = 100 | +11.0% |
| 2009 | 108.97 line rec, 2005 = 100 | -6.4% |
| 2010 | 117.92 line rec, 2005 = 100 | +8.2% |
| 2011 | 119.74 line rec, 2005 = 100 | +1.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 338.94 line rec, 2005 = 100 | 89.17 line rec, 2005 = 100 | 638.53 line rec, 2005 = 100 | 10 |
| 1990s | 99.99 line rec, 2005 = 100 | 58.15 line rec, 2005 = 100 | 159.43 line rec, 2005 = 100 | 10 |
| 2000s | 97.21 line rec, 2005 = 100 | 81.37 line rec, 2005 = 100 | 116.39 line rec, 2005 = 100 | 10 |
| 2010s | 118.83 line rec, 2005 = 100 | 117.92 line rec, 2005 = 100 | 119.74 line rec, 2005 = 100 | 2 |
Countries ranked near Nigeria
- 1 Congo, Democratic Republic of the 1,025 line rec, 2005 = 100 compare
- 2 Equatorial Guinea 127.39 line rec, 2005 = 100 compare
- 3 Zambia 122.67 line rec, 2005 = 100 compare
- 5 Burundi 112.52 line rec, 2005 = 100 compare
- 6 Sierra Leone 110.82 line rec, 2005 = 100 compare
- 7 Central African Republic 109.12 line rec, 2005 = 100 compare
More economy & growth data for Nigeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- GDP (constant 2015 US$), annual growth rate 4.01 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 1.93 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 2,369 constant 2015 US$ per person (2025)
- GDP (constant LCU), annual growth rate 4.01 % change on previous year (2025)
- GDP (constant LCU), per unit of GDP 778.97 constant LCU per US$ of GDP (2025)
- GDP (constant LCU), per capita 953,652 constant LCU per person (2025)
- GNI, Atlas method (current US$), annual growth rate -18.64 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 1.11 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is real effective exchange rate index in Nigeria?
- Real effective exchange rate index in Nigeria was 119.74 line rec, 2005 = 100 in 2011, according to International Monetary Fund, International Financial Statistics.
- What is the highest real effective exchange rate index recorded in Nigeria?
- The highest recorded value was 638.53 line rec, 2005 = 100 in 1984.
- What is the lowest real effective exchange rate index recorded in Nigeria?
- The lowest recorded value was 58.15 line rec, 2005 = 100 in 1992.
- How does Nigeria rank for real effective exchange rate index?
- Nigeria ranks 4th out of 20 countries with data for 2011.
- Is real effective exchange rate index rising or falling in Nigeria?
- Over the last ten years it is up 32.4%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, International Financial Statistics, published as part of Real effective exchange rate index (line rec, 2005 = 100). Statizoid updates them automatically from the source API.
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About this data
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 corresponds to the IFS's line rec, and is based on a nominal rate adjusted for relative changes in consumer prices.