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All Journal TOFEDU: The Future of Education Journal
Felora Anjani
Universitas Negeri Medan
Education Languange, Linguistic, Communication & Media Mathematics Other

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The Effect of Foreign Exchange Market Interventions on Rupiah Exchange Rate Fluctuations in Indonesia Khairani Alawiyah Matondang; Felora Anjani; Irmayani Pulungan; Rifka Ajeng Nurbalqis
The Future of Education Journal Vol 5 No 3 (2026)
Publisher : Lembaga Penerbitan dan Publikasi Ilmiah Yayasan Pendidikan Tumpuan Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61445/22j0rh49

Abstract

This study aims to examine the impact of foreign exchange market intervention on fluctuations in the Indonesian Rupiah exchange rate. The study employs a quantitative approach using secondary data obtained from Bank Indonesia. Foreign exchange market intervention is measured by the volume of Domestic Non-Deliverable Forward (DNDF) transactions, while the Rupiah exchange rate is measured using the Jakarta Interbank Spot Dollar Rate (JISDOR). The dataset covers 12 observation periods from August to September 2026. The analytical techniques include descriptive statistics, simple linear regression, a t-test, and the coefficient of determination. The results show the regression equation Y = 17,772.39 − 0.585X, indicating a negative relationship between foreign exchange market intervention and the value of the Rupiah. However, the t-test produces a significance value of 0.279, which is higher than the 0.05 significance level. Therefore, foreign exchange market intervention does not have a statistically significant effect on fluctuations in the Rupiah exchange rate during the study period. The coefficient of determination of 11.60% indicates that foreign exchange market intervention explains only a small proportion of the variation in the Rupiah exchange rate, while the remaining 88.40% is attributable to other factors outside the research model. These findings suggest that Rupiah exchange rate stability is influenced not only by Bank Indonesia’s intervention policies but also by various domestic and global economic factors.
The Concept of Natural Resource Economics Bonaraja Purba; Febyana Br Sembiring; Felora Anjani; Gina Ami Sefi Br Ginting
The Future of Education Journal Vol 5 No 3 (2026)
Publisher : Lembaga Penerbitan dan Publikasi Ilmiah Yayasan Pendidikan Tumpuan Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61445/atsxzx69

Abstract

Natural resources play a crucial role in economic activities as they are utilized to meet various human needs and support production processes. However, natural resources are finite, and their utilization must therefore be managed responsibly to prevent resource scarcity and environmental degradation. This study aims to examine the concept of natural resource economics, its role in economic activities, the issue of resource scarcity, its relationship with economic growth, and the environmental implications of natural resource utilization in the context of sustainable development. This study employs a literature review method with a descriptive qualitative approach. Data were obtained from various sources, including scientific journals, books, scholarly articles, and publications related to natural resource economics. The findings indicate that natural resources play a significant role in supporting production activities, increasing household incomes, creating employment opportunities, and promoting economic growth. However, excessive exploitation of natural resources can lead to resource depletion, pollution, ecosystem degradation, and declining environmental quality. Therefore, natural resource management should strike a balance among economic, social, and environmental interests. Sustainable management is expected to generate economic benefits in the present while ensuring the availability of natural resources for future generations.
The Effect of Foreign Exchange Market Interventions on Rupiah Exchange Rate Fluctuations in Indonesia Khairani Alawiyah Matondang; Felora Anjani; Irmayani Pulungan; Rifka Ajeng Nurbalqis
The Future of Education Journal Vol 5 No 3 (2026)
Publisher : Lembaga Penerbitan dan Publikasi Ilmiah Yayasan Pendidikan Tumpuan Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61445/sacbp023

Abstract

This study aims to examine the impact of foreign exchange market intervention on fluctuations in the Indonesian Rupiah exchange rate. A quantitative approach was employed using secondary data obtained from Bank Indonesia. Foreign exchange market intervention was measured by the volume of Domestic Non-Deliverable Forward (DNDF) transactions, while the Rupiah exchange rate was measured using the Jakarta Interbank Spot Dollar Rate (JISDOR). The study covered 12 observation periods from August to September 2026. The analytical techniques included descriptive statistics, simple linear regression, a t-test, and the coefficient of determination. The regression analysis produced the equation Y = 17,772.39 − 0.585X, indicating a negative relationship between foreign exchange market intervention and the value of the Rupiah. However, the t-test yielded a significance value of 0.279, which was higher than the 0.05 significance level. Therefore, foreign exchange market intervention did not have a statistically significant effect on fluctuations in the Rupiah exchange rate during the study period. The coefficient of determination of 11.60% indicates that foreign exchange market intervention accounted for only a small proportion of the variation in the Rupiah exchange rate, while the remaining 88.40% was attributable to other factors outside the research model. These findings indicate that Rupiah exchange rate stability is influenced not only by Bank Indonesia’s intervention policy but also by various domestic and global economic factors.
Co-Authors Bonaraja Purba Febyana Br Sembiring Gina Ami Sefi Br Ginting Irmayani Pulungan Khairani Alawiyah Matondang Rifka Ajeng Nurbalqis