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All Journal LIMIT - Pendidikan Matematika EKUIVALEN - Pendidikan Matematika Jurnal Anestesi Perioperatif Jurnal Online Mahasiswa (JOM) Bidang Ilmu Sosial dan Ilmu Politik Poetika: Jurnal Ilmu Sastra ThufuLA: Jurnal Inovasi Pendidikan Guru Raudhatul Athfal AKSIOMA: Jurnal Program Studi Pendidikan Matematika Prosiding Ilmu Pendidikan AlphaMath: Journal of Mathematics Education Jurnal Gantang QALAMUNA: Jurnal Pendidikan, Sosial, dan Agama EKSAKTA : Jurnal Penelitian dan Pembelajaran MIPA Pendas : Jurnah Ilmiah Pendidikan Dasar MAJU : Jurnal Ilmiah Pendidikan Matematika Surya Abdimas JURNAL PENELITIAN Jurnal Pendidikan Surya Edukasi (JPSE) as-sibyan : Jurnal Pendidikan Anak Usia Dini JURNAL INOVASI PENDIDIKAN MATEMATIKA (JIPM) Zonasi: Jurnal Sistem Informasi JP2M (Jurnal Pendidikan dan Pembelajaran Matematika) INSANIA : Jurnal Pemikiran Alternatif Kependidikan Dinamika HEUTAGOGIA: Journal of Islamic Education Jurnal Komputer Teknologi Informasi Sistem Komputer (JUKTISI) Al-Hisbah Jurnal Ekonomi Syariah The Indonesian Journal of Gastroenterology, Hepatology and Digestive Endoscopy UNIVERSE : Journal of Science Education Teaching and Learning International Conference on Health Science, Green Economics, Educational Review and Technology (IHERT) Jurnal Penelitian International Journal of Trends in Mathematics Education Research (IJTMER) Journal of Law, Education and Business Jurnal Ilmiah Research and Development Student Jurnal Multidisiplin Teknologi dan Arsitektur Jurnal Arjuna : Publikasi Ilmu Pendidikan, Bahasa dan Matematika International Journal of Economics and Management Research
Heru Kurniawan
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Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Medicine & Pharmacology Nursing Social Sciences Other

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THE IMPACT OF THE US-CHINA TRADE WAR ON THE STABILITY OF THE RUPIAH EXCHANGE RATE: A SHARIAH HEADING APPROACH Parlindungan; Mirzah Ikmaliyah; Heru Kurniawan
International Conference on Health Science, Green Economics, Educational Review and Technology Vol. 5 No. 1: IHERT (2023) FIRST ISSUE: International Conference on Health Science, Green Economics,
Publisher : Universitas Efarina

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ihert.v5i1.474

Abstract

The trade war between the United States and China has created significant global economic uncertainty, affecting exchange rate stability in developing countries, including that of the Indonesian Rupiah. This study aims to analyze the impact of the US-China trade war on the stability of the Rupiah exchange rate and to explore the application of the Sharia hedging approach as a solution to manage exchange rate fluctuation risks. Using a qualitative method based on a literature review, this study found that in early 2025, the Rupiah exchange rate depreciated by 8% against the US Dollar due to global trade tensions and a domestic current account deficit. The widely used conventional hedging strategies have proven effective but are not in line with Islamic economic principles. On the other hand, Sharia-compliant hedging, such as wa’ad, salam, and murabahah mu’ajjal, offers a more ethical, inclusive, and Sharia-compliant solution. These instruments can mitigate exchange rate risk without involving elements of speculation, gharar, or riba. The implementation of Sharia hedging requires close collaboration between Islamic banks, business actors, and regulators to ensure its effective and appropriate application. This research concludes that the Shariah hedging approach can strengthen the stability of the Rupiah exchange rate while also supporting the principles of Shariah economics.
Co-Authors A.Latif Nugraha Ali Yusri Ali, Musyafa Alya Fauziah Maulida Amaliyah, Dina Inti Andi Zainal Andriadi Anjani, Anggun Estyan Nur Annisa Mutia Dien Islamy Azra, Adhifa Bambang Priyo Darminto Budiarsih, Cahya Budiyono Budiyono Dhea Alpina Giawa Dita Yuzianah Dona Alfina Eka Rahma Tirani Elfitra Erni Puji Astuti Fauziah, Nurul Hananto Purbonugroho Hananto Purbonugroho Hasanul Arifin Ikom Prasetyani Imroatun Imroatun Irawan, RD Ferry Istikomah Istikomah Kasmiati Kusminar, Mimin Lestari, Tuti M Mursalin Marwany Marwany Minarsih, Heri Mirzah Ikmaliyah Moh. Ikhsan Kurnia Mujiyem Sapti Mutamassikin Nashrullah, Ashabul Chairi Nashrullah Nasrudin Nasrudin Neni Suryani Nila Kurniasih Nila Kurniasih Ningsih, Singgih Tresna Nur Ihsan Nurcholifah, Siti Parlindungan Parlindungan Parlindungan Prasetyo Budi Darmono Prastyo Budi Darmono Purwaningsih, Wharyanti Ika Pusfitra, Susi Rahayu, Eko Sri Rahmanita, Novika Rajinder Sharm Rendy Sudirman Riawan Yudi Purwoko Rikati, Lilis Risnawati Robert Weinhandl Romdoni, Muhammad Rizki Samsu Somadayo, Samsu Saniati Rofiqoh Septiyana, Dwi Siti Nurcholifah Siti Rokhmah Rokhmah Supriyono Supriyono Teguh Wibowo Teguh Wibowo Triana Indrasari Widya Silviana Yilun Shang Yuyun Ayu Lestari