This research work is centred on the Impact of Exchange Rate Fluctuation on the Nigerian Economic Growth (1986-2014). Without exchange rate, the exchange of goods and services among trading partners will be face with a lot of problems, which may virtually narrow it down to trade by barter. This exchange also is used to determine the level of output growth of the country. Hence, the rate at which exchange fluctuation calls for a lot of attention. However, with already existing exchange rate policies, a constant exchange rate has not be attained. The rate at which exchange fluctuates brings about uncertainly in the trade transaction and also the rate of naira has been unleashed (let loose) and continues to depreciate. This has resulted to declines in the standard of living of the population, thereby increasing costs of production (most raw materials needed by industries are usually imported) which resulted in inflation. The main type of data used in this study is secondary, sourced from Central Bank of Nigeria Statistical Bulletin of various issues. The correlation and regression analysis of the Ordinary Least Square (OLS) were used to analyze the data. The result revealed that exchange rate has positive impact on economic growth.