ANALISIS PENGARUH NILAI TUKAR RUPIAH, INFLASI, DAN INDEKS DOW JONES TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) DI BURSA EFEK INDONESIA (BEI)

Abstract

This study aims to analyze the influence of the rupiah exchange rate, inflation, and the Dow Jones Index on the movement of the Composite Stock Price Index (JCI) on the Indonesia Stock Exchange (IDX). JCI as the main indicator of the Indonesian capital market is very sensitive to domestic and global macroeconomic factors. This study uses a quantitative approach with multiple linear regression method on time series data for a certain period. The results of the study show that the rupiah exchange rate and the Dow Jones Index have a significant effect on the JCI, while inflation has a weaker influence but is still relevant in explaining JCI fluctuations. These findings strengthen the theory of global capital market integration and the sensitivity of domestic markets to macroeconomic variables.