Central Bank of Nigeria, Research Department
Real effective exchange rate, Nominal effective exchange rate, Indices, Currency
This paper computed Nigeriaâ€™s real and nominal effective exchange rate (REER and NEER) indices using a pool of high frequency monthly data for the period 1996-2007. The paper observed that the REER index appreciated most of the period due to inflationary pressures in Nigeria, implying a loss in Nigeriaâ€™s competitiveness relative to its major trading partners.
Tule, M.K. and Duke, O.O. (2007). Computation of Nigeriaâ€™s real effective exchange rate indices. CBN Economic and Financial Review, 45(4), 1-33.