<SEC-DOCUMENT>0001083839-14-000266.txt : 20141231
<SEC-HEADER>0001083839-14-000266.hdr.sgml : 20141231
<ACCEPTANCE-DATETIME>20141230193415
ACCESSION NUMBER:		0001083839-14-000266
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20141031
FILED AS OF DATE:		20141231
DATE AS OF CHANGE:		20141230
EFFECTIVENESS DATE:		20141231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN MUNICIPAL VALUE FUND INC
		CENTRAL INDEX KEY:			0000812801
		IRS NUMBER:				363513525
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05120
		FILM NUMBER:		141317028

	BUSINESS ADDRESS:	
		STREET 1:		333 W WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178200

	MAIL ADDRESS:	
		STREET 1:		333 W. WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN MUNICIPAL QUALITY FUND INC
		DATE OF NAME CHANGE:	19870504
</SEC-HEADER>
<DOCUMENT>
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SIGNATURE   STEVEN D. FOY
TITLE       V.P. & CONTROLLER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>kpmg77b1014nuv.txt
<TEXT>



Report of Independent Registered Public Accounting Firm

To the Board of Directors/Trustees and Shareholders of
Nuveen Municipal Value Fund, Inc.
Nuveen AMT-Free Municipal Value Fund
Nuveen Municipal Income Fund, Inc.
Nuveen Enhanced Municipal Value Fund:

In planning and performing our audits of the financial statements
of Nuveen Municipal Value Fund, Inc., Nuveen AMT-Free
Municipal Value Fund, Nuveen Municipal Income Fund, Inc.
and Nuveen Enhanced Municipal Value Fund (the  Funds ), as
of and for the year ended October 31, 2014, in accordance with
the standards of the Public Company Accounting Oversight
Board (United States), we considered the Funds internal control
over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-SAR, but not for
the purpose of expressing an opinion on the effectiveness of the
Funds internal control over financial reporting.  Accordingly,
we express no such opinion.

The management of the Funds is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls.  A companys internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with U.S. generally accepted accounting principles
(GAAP). A companys internal control over financial reporting
includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial
statements in accordance with GAAP, and that receipts and
expenditures of the company are being made only in accordance
with authorizations of management and directors of the
company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use,
or disposition of the companys assets that could have a material
effect on the financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a
material misstatement of the Funds annual or interim financial
statements will not be prevented or detected on a timely basis.

Our consideration of the Funds internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control that might be material weaknesses under
standards established by the Public Company Accounting
Oversight Board (United States).  However, we noted no
deficiencies in the Funds internal control over financial
reporting and its operation, including controls over safeguarding
securities, that we consider to be a material weakness as defined
above as of October 31, 2014.

This report is intended solely for the information and use of
management and the Board of Directors/Trustees of the Funds
and the Securities and Exchange Commission, and is not
intended to be and should not be used by anyone other than these
specified parties.


/s/ KPMG LLP
Chicago, Illinois
December 26, 2014



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77C VOTES
<SEQUENCE>3
<FILENAME>nuv77c1014.txt
<TEXT>
Form N-SAR, Sub-Item 77C
Submission of matters to a vote of security holders



Nuveen Municipal Value Fund, Inc.
811-05120


The annual meeting of shareholders was held in the offices of
Nuveen Investments on August 5, 2014 for the above-
referenced fund; at this meeting the shareholders were asked
to vote to approve a new investment management agreement,
to approve a new sub-advisory agreement and to elect Board
Members.


The results of the shareholder votes are as follows:

<table>
<c>
<c> Common shares

To approve a new investment
management agreement


   For
         90,253,159
   Against
           3,143,955
   Abstain
           3,040,199
   Broker Non-Votes
         31,115,910
      Total
       127,553,223


To approve a new sub-advisory
agreement


   For
         89,790,566
   Against
           3,415,727
   Abstain
           3,231,020
   Broker Non-Votes
         31,115,910
      Total
       127,553,223


</table>

Proxy materials are herein
incorporated by reference
to the SEC filing under
Conformed Submission Type
DEF 14A, accession number
0001193125-14-236561, on
June 16, 2014.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77K CHNG ACCNT
<SEQUENCE>4
<FILENAME>nuv77k1014.txt
<TEXT>
SUB-ITEM 77K
Changes in registrants certifying accountant


Nuveen Municipal Value Fund, Inc.
811-05120

During the current fiscal period, the Board of Directors of the
above-referenced Fund, upon recommendation of the Audit
Committee, engaged KPMG LLP ( KPMG ) as the independent
registered public accounting firm to the Fund as of August 7,
2014.  On August 11, 2014, Ernst & Young LLP ( Ernst &
Young ) resigned as the independent registered public accounting
firm to the Fund.

Ernst & Youngs report on the Fund for the two most recent fiscal
periods ended October 31, 2013 and October 31, 2012, contained
no adverse opinion or disclaimer of opinion, and were not
qualified or modified as to uncertainty, audit scope or accounting
principles. For the fiscal periods ended October 31, 2013 and
October 31, 2012 for the Fund and for the period November 1,
2013 through August 11, 2014, there were no disagreements with
Ernst & Young on any matter of accounting principles or
practices, financial statement disclosure or auditing scope or
procedures, which disagreements, if not resolved to the
satisfaction of Ernst & Young, would have caused it to make
reference to the subject matter of the disagreements in connection
with its reports on the Funds financial statements.

The Registrant has requested that Ernst & Young furnish it with a
letter addressed to the SEC stating whether or not it agrees with
the above statements. A copy of such letter is filed as an exhibit
hereto.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77K CHNG ACCNT
<SEQUENCE>5
<FILENAME>nuv102j1014.txt
<TEXT>
SUB-ITEM 102J
Changes in registrants certifying accountant


Nuveen Municipal Value Fund, Inc.
811-05120

During the current fiscal period, the Board of Trustees of the
above-referenced Fund, upon recommendation of the Audit
Committee, engaged KPMG LLP ( KPMG ) as the independent
registered public accounting firm to the Fund as of August 7,
2014.  On August 11, 2014, Ernst & Young LLP ( Ernst &
Young ) resigned as the independent registered public accounting
firm to the Fund.

Ernst & Youngs report on the Fund for the two most recent fiscal
periods ended October 31, 2013 and October 31, 2012, contained
no adverse opinion or disclaimer of opinion, and were not
qualified or modified as to uncertainty, audit scope or accounting
principles. For the fiscal periods ended October 31, 2013 and
October 31, 2012 for the Fund and for the period November 1,
2013 through August 11, 2014, there were no disagreements with
Ernst & Young on any matter of accounting principles or
practices, financial statement disclosure or auditing scope or
procedures, which disagreements, if not resolved to the
satisfaction of Ernst & Young, would have caused it to make
reference to the subject matter of the disagreements in connection
with its reports on the Funds financial statements.

The Registrant has requested that Ernst & Young furnish it with a
letter addressed to the SEC stating whether or not it agrees with
the above statements. A copy of such letter is filed as an exhibit
hereto.



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77K CHNG ACCNT
<SEQUENCE>6
<FILENAME>nuv77k1014ey.txt
<TEXT>

Securities and Exchange Commission
100 F Street N.E.
Washington, DC 20549

Ladies and Gentlemen:
We have read the statements made by Nuveen Municipal
Value Fund, Inc. and are in agreement with the statements
contained in Sub-Item 102J of Form N-SAR. We have no
basis to agree or disagree with other statements of the
registrant contained therein.

/s/ ERNST & YOUNG LLP

Chicago, Illinois
December 29, 2014













A member firm of Ernst & Young Global Limited


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>7
<FILENAME>nuv77q1e1014.txt
<TEXT>
Form N-SAR, Sub-Item 77q1(e)
Any new or amended investment advisory contracts


Nuveen Municipal Value Fund, Inc.
811-05120


We hereby incorporate by reference a new
Investment Advisory agreement, and a new Sub-
Advisory Agreement a form of which was filed as
Appendix L and Appendix M, respectively, under
Conformed Submission Type DEF 14A, accession
number 0001193125-14-236561, on June 16, 2014.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
