The 19-year-old is a product of the Royals' youth system and has already enjoyed a loan spell this season, spending August with League Two club Aldershot.
He has made two appearances for the Royals and represented Wales U21s on four occasions.
Manager Paul Tisdale has been keen to bolster his attacking options after bringing in Matthew Whichelow on a loan deal last week.
Exeter are struggling in second-bottom of League One.

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