THE EFFECT OF INFLATION, INTEREST RATE AND COVID-19 PANDEMIC ON RUPIAH EXCHANGE RATE 2009-2023

Abdul Rahman, Syapsan Syapsan, Any Widyatsari

Abstract


This study aims to determine the effect of inflation, interest rates, and Covid-19 pandemic on rupiah exchange rate during the period from 2009 to 2023. This research utilizes secondary data obtained from Bank Indonesia and employs multiple linear regression analysis method with the assistance of SPSS software version 29.0. The research findings indicate that inflation has a positive and significant effect on the exchange rate of the rupiah, while interest rates have a negative and significant effect on the exchange rate of the rupiah. Additionally, the Covid-19 pandemic (as a dummy variable) has a positive and significant effect on the exchange rate of the rupiah. The Coefficient of Determination (R2) is 0.566, meaning that 56.6% of the variability in the exchange rate of the rupiah can be explained by inflation, interest rates, and the Covid-19 pandemic. Furthermore, the variable most dominant in influencing the exchange rate of the rupiah is inflation, accounting for 39.9%

Full Text:

PDF

References


Fatmasita, A. P. (2020). Pengaruh Pandemi Covid-19 dan Nilai Tukar Rupiah terhadap Pergerakan Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia (BEI) (Doctoral dissertation, Universitas Brawijaya).

Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS. Yogyakarta: Universitas Diponegoro. Edisi 9). Semarang: Badan Penerbit Universitas Diponegoro, 490.Ghzalai, Imam, (2005). “Aplikasi Analisis Multivariate dengan Program SPSS”, Universitas Diponegoro, Semarang.

Ginting, R. P. (2020). Pengaruh Tingkat Suku Bunga Fed, Ekspor Neto, Stabilitas Politik Dalam Negeri dan Tingkat Inflasi Terhadap Nilai Tukar Rupiah di Indonesia Tahun 2009-2018 (Doctoral dissertation, Universitas Siliwangi).

Halin, H. (2016). Analisis Pengaruh Inlasi, Kurs Mata Uang Dan Suku Bunga Terhadap Perubahan Harga Saham Perusahaan Di Bursa Efek Indonesia. Jurnal Ilmiah Ekonomi Global Masa Kini, 7(1), 8-12.

Hasyim, H. (2019). Analisis faktor-faktor yang mempengaruhi perubahan nilai tukar di Indonesia tahun 2006-2018. Jurnal Al-Iqtishad, 14(2), 63-88.

Hermawan, T. W., & Purwohandoko, P. (2020). Analisis pengaruh inflasi, nilai tukar Rupiah, BI rate, jumlah uang beredar, dan indeks Shanghai Stock Exchange terhadap indeks Sri Kehati di Bursa Efek Indonesia Periode 2014-2019. Jurnal ilmu manajemen, 8(4), 1-15.

Hidayat, L. R., Setyadi, D., & Azis, M. (2017, July). Pengaruh inflasi dan suku bunga dan nilai tukar rupiah serta jumlah uang beredar terhadap return saham. In FORUM EKONOMI: Jurnal Ekonomi, Manajemen dan Akuntansi (Vol. 19, No. 2, pp. 148-154).

Madura, J. (2020). International financial management. Cengage Learning

Msi, D. T. H. S. S., & DR Imam Mukhlis SE, M. (2012). Dimensi Ekonomi Perpajakan Dalam Pembangunan Ekonomi. Penebar Plus+.

Pangestuti, D. C. (2020). Manajemen Keuangan Internasional. Deepublish.

Pranoto, H., & Nuryadin, R. (2019). Pengaruh Inflasi, Ekspor, Impor dan Suku Bunga Luar Negeri Terhadap Nilai Tukar Rupiah Atas Dolar Amerika Periode Januari 2014 sd Desember 2018. JIEP: Jurnal Ilmu Ekonomi dan Pembangunan, 2(3), 727-741.

Silitonga, R. B., Ishak, Z., & Mukhlis, M. (2017). Pengaruh ekspor, impor, dan inflasi terhadap nilai tukar rupiah di Indonesia. Jurnal Ekonomi Pembangunan, 15(1), 53-59.

Sunariyah. (2006). Pengantar Pengetahuan Pasar Modal. Edisi Kelima. Yogyakarta: UPP STIM YKPN.

Wijaya, E. (2020). Analisis faktor-faktor yang mempengaruhi nilai tukar rupiah periode 1999Q1-2019Q2. Jurnal Samudra Ekonomi Dan Bisnis, 11(2), 197-209.

Yansyah, M. F., & Masbar, R. (2019). Pengaruh Variabel Moneter Dalam Negeri Dan Luar Negeri Terhadap Nilai Tukar Rupiah. Jurnal Ilmiah Mahasiswa Ekonomi Pembangunan, 4(1), 1-10.




DOI: https://doi.org/10.36987/ecobi.v11i2.6102

Refbacks

  • There are currently no refbacks.


Lisensi Creative Commons

ECOBISMA (Journal of Economics, Business and Management) [p-ISSN: 2477-6092] [E-ISSN: 2620-3391] managed by the Faculty of Economics and Business, Labuhanbatu University is disseminated under a Creative Commons Attribution-NonCommercial-Share Alike 4.0 International License.
Based on work at http://jurnal.ulb.ac.id/index.php/ecob.