Sri Nengsih Pakpahan
Universitas Samudra

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Analisis Pengaruh Foreign Direct Investment, Nilai Tukar, dan Suku Bunga terhadap Cadangan Devisa di Indonesia Sri Nengsih Pakpahan; Nurjannah Nurjannah; Asnidar Asnidar
Takuana: Jurnal Pendidikan, Sains, dan Humaniora Vol. 5 No. 2 (2026): Takuana (July-September)
Publisher : MAN 4 Kota Pekanbaru

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56113/takuana.v5i2.630

Abstract

This study aims to analyze the impact of Foreign Direct Investment (FDI), the exchange rate, and interest rates on foreign exchange reserves in Indonesia. The study utilizes time-series data covering the 2005–2024 period, obtained from Statistics Indonesia (BPS), Bank Indonesia, and the World Bank. Multiple linear regression, performed using EViews 10 software, was employed as the analytical method. The results indicate that FDI and the exchange rate have a positive and significant effect on foreign exchange reserves, whereas interest rates have a negative and significant effect. Collectively, FDI, the exchange rate, and interest rates significantly influence foreign exchange reserves in Indonesia. These findings suggest that increased Foreign Direct Investment (FDI), exchange rate stability, and appropriate interest rate policies play a crucial role in strengthening Indonesia's foreign exchange reserves.