The impact of exchange rate on Nigeria's economic growth was studied from 1981 to 2020. Factors like inflation, interest rate, foreign investment, money supply, and balance of payments were analyzed. The findings show that in the short term, exchange rate, balance of payments, money supply, and foreign investment have a positive impact on economic growth. However, inflation and interest rate have a negative impact. In the long term, exchange rate, inflation, interest rate, foreign investment, balance of payments, and money supply all positively affect economic growth. The study suggests that monitoring banks and forex dealers can help prevent unethical practices and support economic growth.