<![CDATA[This study aims to analyze the role of Bank Indonesia Foreign Exchange Sukuk (SUVBI) as an Islamic monetary stability instrument in controlling inflation and maintaining Rupiah exchange rate stability. The study is motivated by increasing inflationary pressures caused by the depreciation of the Rupiah against the US Dollar, which triggers imported inflation. This research employs a Systematic Literature Review (SLR) method with a qualitative descriptive approach by analyzing scientific articles, journals, and official publications related to Islamic monetary policy, inflation, exchange rates, and sukuk during the 2020–2025 period. The findings indicate that Islamic monetary instruments play an important role in maintaining economic stability through liquidity control and exchange rate stabilization. SUVBI, as a foreign exchange-based Islamic instrument, is considered capable of assisting Bank Indonesia in absorbing foreign exchange liquidity, maintaining Rupiah stability, and reducing inflationary pressures without using interest-based mechanisms. Furthermore, SUVBI reflects the implementation of Islamic economic principles because it is linked to underlying real assets and free from riba elements. This study concludes that SUVBI has the potential to become an effective Islamic monetary instrument in supporting monetary stability and the Islamic financial system in Indonesia.]]>
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