The Effect of Inflation, Exchange Rate, BI Rate, and Gross Domestic Product (GDP) on Third-Party Funds of Islamic Commercial Banks during the 2020–2024 Period

Tasya Rachma
Misdiyono
Aulia Nugraha

Gudang Jurnal Multidisiplin Ilmu
Vol. 4 No. 5 (2026): GJMI - Mei

This study aims to examine the short-term and long-term relationships between inflation, exchange rate, BI rate, and GDP on third-party funds (DPK) in Islamic commercial banks. This research uses a quantitative approach and secondary data, which consist of 60 monthly observations from January 2020 to December 2024. The analysis tool employed is the Vector Error Correction Model (VECM), with several tests conducted, including the stationarity test, optimal lag test, VAR stability test, cointegration test, Granger causality test, VECM estimation, impulse response function (IRF) test, and forecast error variance decomposition (FEVD) test. The results indicate that inflation has a significant negative effect on DPK in both the short and long term. The exchange rate has no significant effect on DPK in either the short or long term. The BI rate does not affect DPK in the short term, while in the long term, it tends to show a negative effect, though not significant. Gross Domestic Product (GDP) has a significant positive effect on DPK in both the short and long term.