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ABSTRACT
This study reviewed the impact of macroeconomic indicators on the Nigerian capital market over the period of 2000 – 2022. The study’s objective is to examine the relationship between inflation rate and the Nigerian capital market, investigate the rate at which exchange rate impacts the Nigerian capital market, analyse the effect of interest rate on the Nigerian capital market. The Research design used in this study is the ex-post facto research design with panel data, sourced from stock exchanges and global economic repositories. This study conducted regression analysis using the ordinary least squares (OLS) method for 23 years data sourced for the variables. The analysis of the data revealed that exchange rate is statistically significant and positively impacts the Nigerian capital market, interest rate is statistically significant and negatively impacts the Nigerian capital market and that inflation rate has no statistically significant relationship with the Nigerian capital market. The study concluded that overall, exchange rate and interest rate are key macroeconomic indicators that significantly influences the Nigerian capital market. Inflation rate however, was found not to be a key macroeconomic indicator that influences the Nigerian capital market.
