PENGARUH INVESTASI, UTANG LUAR NEGERI DAN SUKU BUNGA AMERIKA TERHADAP NILAI TUKAR RUPIAH (TAHUN 2008-2019)

Abstract

This research was conducted in Indonesia by taking data on the variables of PMA, Foreign Debt, American interest rates. This research was conducted in 2019 with a time period of 2008-2019. This study aims to determine how the influence of foreign investment, foreign debt and US interest rates, either partially or simultaneously on the rupiah exchange rate (2008-2019). The data used in this study are secondary data and data that has a periodic nature (time series). The effect of foreign investment, foreign debt, and the Fed's interest rate on the rupiah exchange rate using multiple linear regression analysis model. The results of the study concluded that partially foreign investment variables (X1) and American interest rates (X3) had a significant effect on the rupiah exchange rate, but foreign debt (X2) had no significant effect on the rupiah exchange rate. Simultaneously, foreign investment (X1), foreign debt (X2) and US interest rates (X3) affect the exchange rate. This study suggests that in order to increase the exchange rate, the government should stabilize the economy to attract the attention of foreign investors to invest in Indonesia, the government should maintain foreign exchange reserves and pay debts before maturity and payments when the exchange rate is appreciating so as not to make the debts that must be paid become greater than. Furthermore, the suggestion is to carry out a BI interest rate policy to offset the FED's interest rate so that investors do not withdraw their investment when the FED raises interest rates.

Keywords: rupiah exchange rate, foreign investment, American interest rates and foreign debt