Nigeria - Real Effective Exchange Rate 2024
63.92
−51.70 from 2023
Nigeria's real effective exchange rate was 63.92 in 2024, decreased +51.70 from 115.62 in 2023. This was the 3rd highest globally.
Global Ranking - 2024▾
| Rank | Country | Value | YoY |
|---|---|---|---|
| 1st | Japan | 55.02 | -26.5% |
| 2nd | Brazil | 60.70 | -46.6% |
| 3rd | Nigeria | 63.92 | -44.7% |
| 4th | Ghana | 67.82 | -4.8% |
| 5th | South Africa | 72.60 | -26.0% |
| 6th | Zambia | 73.28 | -13.3% |
| 7th | Norway | 73.67 | -22.0% |
| 8th | Colombia | 74.58 | -23.5% |
| 9th | Lesotho | 77.78 | 4.1% |
| 10th | Russian Federation | 80.03 | -21.7% |
| 11th | Canada | 80.51 | -19.8% |
| 12th | Malaysia | 80.96 | -15.0% |
| 13th | Chile | 84.16 | -22.9% |
| 14th | Malawi | 84.16 | -15.4% |
| 15th | Sweden | 84.55 | -10.6% |
| 16th | Dominican Republic | 85.79 | -5.0% |
| 17th | Greece | 87.35 | -12.2% |
| 18th | Ukraine | 87.58 | -4.6% |
| 19th | Cyprus | 88.06 | -12.9% |
| 20th | Grenada | 88.29 | -1.5% |
| 21st | Ireland | 88.81 | -11.5% |
| 22nd | St. Kitts and Nevis | 90.05 | -2.1% |
| 23rd | France | 91.97 | -5.0% |
| 24th | Australia | 92.05 | -13.5% |
| 25th | Malta | 92.46 | -6.6% |
| 26th | Korea | 92.51 | -4.3% |
| 27th | Hungary | 93.21 | -15.7% |
| 28th | Tunisia | 93.22 | 5.2% |
| 29th | Dominica | 93.87 | 0.4% |
| 30th | Thailand | 94.16 | -0.9% |
| 31st | Denmark | 94.21 | -3.7% |
| 32nd | Italy | 95.03 | -5.3% |
| 33rd | Türkiye | 95.25 | 12.0% |
| 34th | Portugal | 95.58 | -2.7% |
| 35th | Hong Kong SAR, China | 95.66 | -3.1% |
| 36th | Bahamas, The | 96.21 | -2.4% |
| 37th | St. Lucia | 97.14 | -3.4% |
| 38th | Spain | 97.26 | -2.9% |
| 39th | Germany | 97.48 | -2.7% |
| 40th | Croatia | 98.16 | -5.1% |
| 41st | Luxembourg | 98.57 | 0.9% |
| 42nd | Finland | 98.77 | -1.7% |
| 43rd | Indonesia | 100.09 | -1.7% |
| 44th | Mexico | 100.21 | -23.3% |
| 45th | Gabon | 100.87 | -0.1% |
| 46th | Nicaragua | 100.96 | 2.3% |
| 47th | Morocco | 101.08 | 3.1% |
| 48th | Côte d'Ivoire | 101.34 | 2.5% |
| 49th | Slovenia | 101.51 | -0.3% |
| 50th | India | 102.05 | 2.7% |
| 51st | Equatorial Guinea | 102.34 | 1.4% |
| 52nd | United Arab Emirates | 102.36 | 0.5% |
| 53rd | Pakistan | 102.52 | 12.1% |
| 54th | Peru | 102.88 | 1.6% |
| 55th | Belgium | 103.68 | 3.0% |
| 56th | Gambia, The | 103.72 | -1.3% |
| 57th | Bosnia and Herzegovina | 103.83 | -0.7% |
| 58th | Bahrain | 103.91 | -0.5% |
| 59th | Netherlands | 104.63 | 3.0% |
| 60th | St. Vincent and the Grenadines | 105.91 | 1.1% |
| 61st | Algeria | 106.12 | -4.8% |
| 62nd | New Zealand | 106.18 | 0.5% |
| 63rd | Belize | 106.28 | 1.2% |
| 64th | Israel | 106.35 | 12.5% |
| 65th | Togo | 106.91 | 3.5% |
| 66th | Paraguay | 106.97 | 0.4% |
| 67th | Austria | 107.64 | 5.0% |
| 68th | Fiji | 108.16 | 1.6% |
| 69th | United Kingdom | 108.37 | 1.9% |
| 70th | Cameroon | 108.82 | 3.7% |
| 71st | Uganda | 110.18 | 2.3% |
| 72nd | Switzerland | 110.84 | 10.5% |
| 73rd | North Macedonia | 110.90 | 1.0% |
| 74th | Romania | 111.64 | 1.4% |
| 75th | Georgia | 112.13 | -6.2% |
| 76th | Lithuania | 112.75 | -1.8% |
| 77th | Guyana | 112.79 | 0.3% |
| 78th | Poland | 113.01 | 0.0% |
| 79th | China | 113.12 | 20.6% |
| 80th | Sierra Leone | 113.43 | 19.4% |
| 81st | Philippines | 113.68 | 12.2% |
| 82nd | Slovak Republic | 113.87 | 5.6% |
| 83rd | Serbia | 114.71 | 2.4% |
| 84th | Latvia | 115.81 | 6.0% |
| 85th | Antigua and Barbuda | 116.10 | 2.3% |
| 86th | Samoa | 116.58 | -0.3% |
| 87th | Bulgaria | 117.79 | 5.3% |
| 88th | Estonia | 118.28 | 1.6% |
| 89th | Costa Rica | 119.07 | 3.6% |
| 90th | Saudi Arabia | 119.66 | 17.0% |
| 91st | Czechia | 120.33 | -4.2% |
| 92nd | Singapore | 120.99 | 7.5% |
| 93rd | Papua New Guinea | 121.48 | -6.8% |
| 94th | Armenia | 122.33 | -3.3% |
| 95th | Congo, Democratic Republic of | 127.59 | 0.5% |
| 96th | Central African Republic | 127.99 | -0.4% |
| 97th | Trinidad and Tobago | 128.43 | -1.0% |
| 98th | Uruguay | 128.79 | 1.0% |
| 99th | Argentina | 129.72 | 2.5% |
| 100th | United States | 130.60 | 21.7% |
| 101st | Iceland | 137.80 | 25.1% |
| 102nd | Solomon Islands | 139.57 | 2.7% |
| 103rd | Burundi | 141.13 | 4.1% |
| 104th | Bolivia, Plurinational State of | 156.58 | 5.2% |
| 105th | Moldova | 180.67 | 4.3% |
| 106th | Iran, Islamic Republic of | 625.71 | 31.0% |
FAQ
What was Nigeria's real effective exchange rate in 2024?▾
Nigeria's real effective exchange rate in 2024 was 63.92. This ranked 3rd globally.
How did Nigeria's real effective exchange rate change in 2024?▾
Nigeria's real effective exchange rate decreased by 44.7% in 2024 compared to 2023.
Which country had the highest real effective exchange rate in 2024?▾
Iran, Islamic Republic of had the highest real effective exchange rate in 2024 at 625.71.
What is the real effective exchange rate of Nigeria in 2024?▾
The real effective exchange rate of Nigeria in 2024 was 63.92. This ranked 3rd globally.
How does 2024 compare to 2023 for Nigeria's real effective exchange rate?▾
Nigeria's real effective exchange rate went from 115.62 in 2023 to 63.92 in 2024, a 44.7% decrease.
HistorySaid - pattern alert
Nigeria matched the Export Boom Cycle pattern in 2024. Historically: 768 occurrences, 546 successful (71%). View full analysis →
Related
2023
All years
Full ranking 2024
Exchange Rate
Foreign Reserves
Reserves in Months of Imports
Peak: 1984
Lowest: 1992
Real Effective Exchange Rate 1990s
Real Effective Exchange Rate 2000s
Real Effective Exchange Rate 2010s
Real Effective Exchange Rate 2020s
Highest ever
Lowest ever
Average
vs Guinea-Bissau
vs Chad
vs Togo
vs Burkina Faso
Organisation of Islamic Cooperation Real Effective Exchange Rate
OPEC Real Effective Exchange Rate
African Union Real Effective Exchange Rate
Global Ranking