<![CDATA[This study aims to examine the effects of inflation, exchange rates, and global oil prices on the Jakarta Islamic Index (JII) in Indonesia. The approach used in this study is a quantitative approach utilizing secondary time-series data for the period 2016–2025, consisting of 120 monthly observations. The analytical technique used was multiple linear regression, with first-difference transformation to address the issue of data nonstationarity. The results indicate that inflation does not have a significant effect on the JII. Conversely, the exchange rate was found to have a significant negative effect, suggesting that a depreciation of the rupiah tends to dampen the performance of the Islamic stock index. Meanwhile, global oil prices have a significant positive effect on the JII. Collectively, these three variables account for 29,34% of the variation in the JII. These findings are expected to serve as a useful reference for investors and stakeholders in understanding the dynamics of macroeconomic factors in the Islamic capital market.]]>
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