_____________________________________________________________________________________________________ *Corresponding author: Email: sunnexkk@yahoo.com; South Asian Journal of Social Studies and Economics 7(2): 21-48, 2020; Article no.SAJSSE.57675 ISSN: 2581-821X Exchange Rates Fluctuations and International Trade in a Mono-product Economy: Nigeria’s Experience, 1986-2018 Kalu, UKo Kalu 1* and Anyanwaokoro, Mike 1 1 Department of Banking and Finance, Enugu State University of Science and Technology, Enugu State, Nigeria. Authors’ contributions This work was carried out in collaboration between both authors. Author KUK designed the study, performed the statistical analysis, wrote the protocol and wrote the first draft of the manuscript. Authors AM and KUK managed the analyses of the study. Author AM managed the literature searches. Both authors read and approved the final manuscript. Article Information DOI: 10.9734/SAJSSE/2020/v7i230187 Editor(s): (1) Dr. Philippos I. Karipidis, International Hellenic University, Greece. (2) Dr. John M. Polimeni, Albany College of Pharmacy and Health Sciences, USA. (3) Dr. Velan Kunjuraman, University Malaysia Kelantan (UMK), Malaysia. Reviewers: (1) Dinh Tran Ngoc Huy, International University of Japan, Japan. (2) Sukono, Padjadjaran University, Indonesia. Complete Peer review History: http://www.sdiarticle4.com/review-history/57675 Received 10 April 2020 Accepted 17 June 2020 Published 20 July 2020 ABSTRACT This study sought to examine the effects of Exchange Rate on the International Trade in a Mono- Product Economy: Nigeria’s experience 1986–2018 Nigeria has a large population and as a nation, she imports virtually everything including toilet tissues and toothpicks. In fact, in some quarters, the consumption of imported goods has become a status symbol. With few functional manufacturing firms, her major foreign Exchange earner being Crude Oil accounting for over 70% of her foreign exchange earnings has suffered consistent price decreases and even showing no signs of recovery. Holding to her inability to process sufficient quantities of the Crude for local consumption, a large chunk of the foreign Exchange earned is spent in importing processed Petroleum Products from other Countries. Furthermore, the Citizens’ uncontrollable and insatiable appetite for imported goods(ranging from food to fodder, to electronics, Ceramics and all sorts of building materials including raw materials, to automobiles and worst of it all Medical Tourism) including so many Original Research Article