Disclosed is a receiver and a method for receiving a radio-electric navigation signal modulated by a carrier at a frequency f.sub.p, a sub-carrier at a frequency f.sub.sp and a pseudo-random code at a frequency f.sub.c, in which the radio-electric signal is converted into a two-way base band I, Q, characterized in that K modified pseudo-random codes, where K=.alpha.f.sub.sp/f.sub.c, a being a predetermined integer, are generated locally by a modified code generator, each modified code having, during a time duration T.sub.k where T.sub.k=1/.alpha.f.sub.sp, the shape of the pseudo-random code without the sub-carrier, and being offset in time by a duration T.sub.k of the preceding modified pseudo-random code; in both ways, the signal is multiplied by the K modified codes and is phase- and quadrature-correlated by two phase and quadrature sub-carriers generated locally.