Analysis of Factors Affecting Foreign Exchange Reserves in Indonesia in 2006-2021


  • Kamila Syahmiyanti a:1:{s:5:"en_US";s:34:"Universitas Muhammadiyah Surakarta";}
  • Daryono Soebagyo



ForeignnExchangeeReservessareetheeamounttoffforeignncurrency held by the central bank to fulfill financial obligations due to international transactions as well as being important in the ongoing export and import international trade activities within a country. Foreign exchange reserves can be used to stabilize rupiah exchange rate fluctuations in reducing import demand and financing, so that the domestic currency exchange rate can be maintained. This research will examine theieffectzof inflation rate, rupiahmexchangeyrate, exports, and importszonnforeigntexchangesreservessini Indonesia during the periode2006-2021. This study uses timerseriesxdataafrommthe CentrallStatisticszAgency anddBankqIndonesia. Theeanalytical tool usedminnthis study issa multipleeregressionnmodel with the OrdinaryiLeastzSquares(OLS)method. Thewresultszoffthissstudyyindicatedthatsthe variables of inflationmand exchangesrates have an effectson foreigndexchangezreserves. Meanwhile, the Export and Import variables have no effectxon ForeigntExchangerReserves.


Kata kunci: Exchangesrate; Export; Foreign exchange reserves; Inflation; Import


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How to Cite

Syahmiyanti, K., & Soebagyo, D. (2023). Analysis of Factors Affecting Foreign Exchange Reserves in Indonesia in 2006-2021. Primanomics : Jurnal Ekonomi & Bisnis, 21(1), 71–81.