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ABSTRACT
This study investigates the effect of exchange rate volatility on Nigeria stock market. Secondary data were obtained from central bank of Nigeria statistical bulletin and Security exchange commission (SEC) covering the period of 2004 to 2014. It was found that the exchange rate volatility generated via Multilple Regression process and Error Correction model exerts a weak negative effect on the Nigeria stock markets. However, base on the findings the reseacher recommended that there should be an urgent drift from oil base economy (mono economy) to knowledge base economy so that crude oil shocks in the international market will not be effecting the economy badly which always lead to cry for devaluation which negatively affect Nigeria stock Market and import substitution policies should be implemented to reduce over dependency on import which also negatively affect naira. So, there is need for government to revive the various export sectors of the economy so that the nation import bill will reduce.
