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All Journal Jesya (Jurnal Ekonomi dan Ekonomi Syariah) Jurnal Vokasi Jurnal Tekinkom (Teknik Informasi dan Komputer) Jurnal EK dan BI Jurnal Akuntansi Dan Manajemen Indonesia (JAMIN) Gemilang: Jurnal Manajemen dan Akuntansi Economic: Journal Economic and Business JIMEK Jurnal Pengabdian Masyarakat Indonesia
Hutagalung, Debora Silvia
Politeknik Negeri Medan
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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The effect of exchange rates and interest rates on Indonesia's international trade performance during 2015–2024 Artha Putri Br Karo; Debora Silvia Hutagalung; Septri Anisa; Andreas Panjaitan
Economic: Journal Economic and Business Vol. 5 No. 2 (2026): ECONOMIC: Journal Economic and Business
Publisher : Lembaga Riset Mutiara Akbar (LARISMA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56495/ejeb.v5i2.1547

Abstract

The purpose of this study is to examine the relationship between exchange rates and interest rates on a country's foreign trade performance. Exchange rate movements influence the price competitiveness of exported and imported goods, while changes in interest rates impact capital flows and the stability of the national currency. This study applies quantitative methods using secondary data obtained from Indonesian government financial reports, international trade statistics, and monetary indicators for the period 2015 to 2024. The analysis shows that exchange rate depreciation generally encourages exports but suppresses imports. Meanwhile, interest rate increases have varying impacts, depending on market responses, particularly from investors and domestic consumers. Therefore, exchange rate stability and the implementation of appropriate interest rate policies are strategic factors in supporting the performance of the international trade sector.
The impact of money supply and interest rates on the rupiah exchange rate in Indonesia (2015–2024) Septri Anisa; Andreas Panjaitan; Artha Putri Br Karo; Debora Silvia Hutagalung
Economic: Journal Economic and Business Vol. 5 No. 2 (2026): ECONOMIC: Journal Economic and Business
Publisher : Lembaga Riset Mutiara Akbar (LARISMA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56495/ejeb.v5i2.1548

Abstract

Fluctuations in the rupiah exchange rate reflect the dynamics of macroeconomic conditions and monetary policy responses to domestic and global pressures. This study aims to analyze the influence of the money supply and interest rates on the rupiah exchange rate from 2015 to 2024. A quantitative approach was used, utilizing annual time series data and linear regression analysis to identify the relationship between variables. The results indicate that the money supply has a positive and significant effect on the exchange rate, reflecting that increases in domestic liquidity are followed by changes in the exchange rate. Conversely, interest rates do not show a statistically significant effect. This finding confirms that liquidity plays a more dominant role than interest rates in influencing the exchange rate. Therefore, controlling the money supply is a crucial aspect in maintaining exchange rate stability.
Co-Authors Ambo Enre Andreas Panjaitan Andreas Panjaitan, Andreas Artha Putri Br Karo Arwin Arwin Beatrice Nathania Boangmanalu, Eka Putra Dairi Desmon Gunadi Siagian Eka Pratiwi Septania Parapat Eka Pratiwi Septania Parapat Eka Pratiwi Septania Parapat Eka septiana parapat Eko Deswin Miechaels Siringo-Ringo Erikson Damanik Eve Ida Malau Fransisco Mezgion Hutauruk Henri Abdiel Simbolon Junaidi Junaidi Junaidi Siahaan Marbun, Abri Andry Saresa Mega Romauly Tampubolon Merry Merry Rifky Fachrezy Roy Sahputra Saragih Sahat Sahat Septri Anisa Suny Sabila Victor Marudut Mulia Siregar Yohana Yulianti Simbolon