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This study evaluates how macroeconomic variables such as interest rates, inflation, and exchange rates affect the returns on corporate bonds issued by the banking sector in Indonesia. Corporate bonds are an attractive investment alternative, but their performance is highly influenced by fluctuations in national economic conditions. This study uses secondary data obtained from company financial reports, macroeconomic data, and bond market information over a certain period. Multiple linear regression analysis is applied to assess the extent to which each factor affects bond returns. The analysis results indicate that increases in interest rates and inflation tend to reduce bond returns, while the effect of exchange rates is inconsistent and depends on the economic stability at the time. These findings can serve as important considerations for investors, financial analysts, and policymakers in managing risks and opportunities in the Indonesia banking bondmarket.

Exchange rates are a crucial indicator in an open economy, playing a significant role in influencing international trade, investment flows, and overall macroeconomic stability. This study aims to analyze the impact of rupiah exchange rate fluctuations on Indonesia’s economic growth during the period 2014–2023. The research employs a descriptive qualitative approach using secondary data obtained from official publications of Statistics Indonesia and Bank Indonesia. The main variables analyzed include the rupiah exchange rate against the United States dollar and Indonesia’s economic growth. The findings indicate that exchange rate movements are closely related to economic growth dynamics, particularly through international trade mechanisms, production costs, and the stability of the real sector. Depreciation of the exchange rate tends to enhance export competitiveness, but it may also trigger inflation due to rising import prices. Conversely, appreciation can help control inflation but may weaken export competitiveness. Therefore, maintaining exchange rate stability is essential to support sustainable economic growth and strengthen national economic resilience.

Global economic uncertainty and exchange rate fluctuations pose significant challenges to monetary stability in Indonesia, particularly in maintaining a controlled inflation rate. This study aims to analyze the transmission mechanism of the rupiah exchange rate to the inflation rate in Indonesia from 2015 to 2024. The method used in this study is library research by collecting, reviewing, and synthesizing data from various scientific literature, official central bank reports, and related journal articles published over the past decade. The research findings indicate that rupiah depreciation has a significant influence on rising inflation through the imported inflation channel, where currency depreciation increases the cost of raw materials for industries dependent on foreign markets. Furthermore, the findings reveal that the effectiveness of this transmission is influenced by public expectations and monetary policy taken by Bank Indonesia through adjustments to the benchmark interest rate. The implications of this study emphasize the importance of synergy between a stable exchange rate policy and controlling the supply of domestic goods to minimize the impact of external shocks on public purchasing power. The government and monetary authorities are advised to continue strengthening foreign exchange reserves and encouraging the use of local currencies in international transactions to reduce dependence on the United States dollar and maintain national price stability.

Each country has different holiday policies, but the number of holidays in Indonesia is quite large, which impacts uncertainty for investors when buying or selling shares. These events can cause market anomalies or irregular market conditions and produce abnormal returns at certain times, known as the holiday effect. This study uses a quantitative descriptive method with an event study approach, data collection is carried out using documentation and literature methods. The data used are secondary data in the form of the Jakarta Composite Index (JCI), the LQ45 Index, and the Jakarta Islamic Index (JII) from the official website of the Indonesia Stock Exchange (IDX). Exchange rate data is taken from the official website of Bank Indonesia. The population of this study is every company listed on the IDX, while the data used are JCI, LQ45, and JII data 6 days before and 6 days after the Eid al-Fitr holiday and regular trading days from 2011-2025. The results of the study show that there is no significant difference in the JCI, LQ45 Index, or JII before and after the Eid al-Fitr holiday, so there is no holiday effect. These results indicate that all three indices reflect a market that tends to be efficient and stable in responding to seasonal events. Furthermore, the Rupiah exchange rate had a negative but significant effect on the Jakarta Composite Index (JCI). The Rupiah exchange rate had a negative but insignificant effect on the JII before and after the Eid al-Fitr holiday. The Rupiah exchange rate had a positive but insignificant effect on the LQ45 Index before and after the Eid al-Fitr holiday.

Corn production in the provinces of East Nusa Tenggara (NTT) and West Nusa Tenggara (NTB) exhibits dynamics influenced by agro-climatic factors, the utilization of production facilities, and the welfare condition of the farmers. This study aims to analyze the impact of rainfall, solar radiation, and production inputs on corn productivity; to explain the relationship between production changes and the Farmer’s Exchange Rate (NTP) as a welfare indicator; and to evaluate the contribution of the corn subsector to the agricultural Gross Regional Domestic Product (GRDP). The research method uses a descriptive-quantitative approach based on BPS data and official local government documents. The results indicate that NTB has more stable productivity due to relatively even rainfall and better support for production facilities, whereas NTT faces higher production fluctuations due to greater climate variability. Furthermore, the NTP in NTB tends to be better than in NTT, aligning with the stability of its productivity. Corn contributes significantly to the agricultural GRDP in both provinces, particularly in central production areas such as Dompu and Bima. Policy implications include the necessity for strengthening post-harvest infrastructure, more equitable input distribution, and climate adaptation strategies in drought-prone areas. The findings provide an empirical basis for sustainable productivity improvement and farmer welfare policies.

Economic growth is the process of increasing a country's production capacity to generate goods and services over a specific period, reflecting the income and well-being of its people. This research aims to analyse the influence of labor, exchange rates, and exports on the Gross Domestic Product (GDP) of the manufacturing sector in Indonesia during the period 2010-2024. The method used is multiple linear regression analysis with the Ordinary Least Square (OLS) approach, using secondary data obtained from the Central Bureau of Statistics (BPS) and Bank Indonesia (BI). The research results indicate that all three independent variables, namely labor, exchange rate, and exports, have a positive and significant impact on the GDP of the manufacturing sector, both partially and simultaneously. The coefficient of determination (Adjusted R2) value of 0.9633 indicates that 96.33% of the variation in industrial sector GDP can be explained by these three variables, while 3.76% is influenced by factors outside the model. This research confirms that increased labour productivity, exchange rate stability, and export growth play an important role in strengthening the performance of the manufacturing sector in Indonesia. Therefore, policies focused on improving the quality of human resources, strengthening export competitiveness, and ensuring macroeconomic stability are needed to support the sustainable and globally competitive growth of the manufacturing sector.

Content commodification has become a dominant phenomenon within Indonesia’s digital ecosystem, where communication messages are no longer oriented toward use value such as education and enlightenment, but toward exchange value determined by algorithms, virality, and monetization potential. This transformation is evident in the behavior of content creators, online media, politicians, and government institutions that adjust their message formats to align with the logic of platforms such as TikTok, Instagram, and YouTube. Political content during the 2024 Election, clickbait practices in online journalism, and the aestheticization of public campaigns such as Bangga Buatan Indonesia(BBI) and Gerakan Kamis Pakai Lokal (GASPOL) demonstrate that content today is produced primarily to capture attention rather than to strengthen social literacy. Using a constructivist paradigm and a descriptive qualitative approach, this study analyzes how exchange value dominates meaning-making processes in digital spaces. Through the lenses of media political economy, cultural industries, and surveillance capitalism, the study shows that content commodification shifts the function of communication from a deliberative public sphere to a commercial arena governed by algorithms. These findings highlight the urgent need for digital literacy and communication ethics to safeguard the social role of media in Indonesia.

Fishermen are an essential group in supporting national food security; however, their lives are still characterized by various social and economic challenges, such as unstable income, low education levels, and high household expenditure burdens. This research aims to provide an overview of the socio-economic conditions and welfare of Bouke Ami fishermen in the Nusantara Fisheries Port (PPN) Muara Angke, North Jakarta, through the Fishermen’s Exchange Rate (NTN) and Fishermen’s Exchange Rate Index (iNTN). The study was conducted in May–June 2025 using a descriptive method with quantitative and qualitative approaches. Data collection techniques included observation, interviews, and questionnaires distributed to 100 Bouke Ami crew members (ABK). The results showed that the majority of crew members were aged 30–39 years, had completed only junior high school education, received health services through community health centers (puskesmas), had three family dependents, and most lived in their own homes. The average total monthly income of Rp5.733.500 is considered high as it exceeds the 2025 DKI Jakarta minimum wage (UMP) of Rp5.367.381. Meanwhile, the average total expenditure of Rp5.396.761 remains below income, indicating manageable household finances. The NTN value was 1,06 in April and 1,07 in May, resulting in an iNTN of 101%, indicating that Bouke Ami fishermen in PPN Muara Angke, North Jakarta, are at a level of economic welfare classified as prosperous with slight improvement. This increase reflects a modest rise in fishermen’s purchasing power between the two months and can serve as basis for formulating policies aimed at empowering coastal fishermen.

This study aims to determine and analyze the development and influence of exports, exchange rates, inflation, and GRDP on the exchange rate of smallholder plantation farmers in Jambi Province. This study uses multiple linear regression analysis for the period 2009-2024 in Jambi Province. The development of exports, exchange rates, inflation, and GRDP fluctuates annually. Where the average development of exports in Jambi Province in 2009-2024 was 15.22%, the average development of exchange rates was 3.06%, the average development of inflation was 49.07%, the average development of GRDP was 6.22% and the average development of the exchange rate of smallholder plantation farmers in Jambi Province was 4.57%. The results of the study using multiple linear regression resulted in the finding that the variables of exports, exchange rates, inflation, and GRDP simultaneously influenced the exchange rate of smallholder plantation farmers in Jambi Province in 2009-2024. Meanwhile, partially, the export, exchange rate, and inflation variables have a negative effect on the exchange rate of farmers in the smallholder plantation sub-sector in Jambi Province, while the GRDP variable has a substantial positive effect on the exchange rate of farmers in the smallholder plantation sub-sector in Jambi Province in 2009-2024.

This study aims to analyze the effect of changes in interest rates, exchange rates, economic growth, and world oil prices on stock returns in the transportation and logistics sector in Indonesia during the period 2006–2024. This sector was chosen because it is highly vulnerable to fluctuations in macroeconomic factors that have a direct impact on companies' operating costs and financial performance. The method used is multiple linear regression with an annual panel data approach, using a sample of transportation and logistics companies listed on the Indonesia Stock Exchange. The independent variables include changes in interest rates, exchange rates, economic growth, and oil prices, while the dependent variable is stock returns. The results show that, partially, only changes in interest rates have a significant negative effect on stock returns. Conversely, exchange rates, economic growth, and oil prices have no statistically significant effect. Simultaneously, these four variables also show no significant effect on stock returns. This study makes a new contribution through the use of a long observation period and a focus on the transportation and logistics sector, thereby providing a deeper understanding of this sector's sensitivity to macroeconomic conditions.

In the first quarter of 2025, the Indonesian rupiah experienced a significant depreciation, weakening from approximately IDR 15,800 per USD in January to IDR 17,200 per USD by the end of March 2025. This study aims to identify and analyze the external and domestic factors contributing to the rupiah’s decline during this period. External pressure mainly stemmed from the U.S. Federal Reserve’s hawkish stance—maintaining its benchmark interest rate at 5.25%–5.50% which triggered capital outflows from emerging markets. Additionally, global geopolitical uncertainty, including tensions in Eastern Europe and trade frictions between the U.S. and China, raised the global risk premium and strengthened the U.S. dollar against the rupiah. On the domestic side, Indonesia’s trade deficit widened to USD 3.2 billion in Q1 2025 due to rising energy import demand amid surging global oil prices. Furthermore, the state budget deficit increased to IDR 104.2 trillion by March 2025 up 20% year on year undermining investor confidence. Using a qualitative descriptive method through content analysis of reports from Bank Indonesia, BPS trade statistics, and relevant media sources, this study finds that the combination of elevated U.S. interest rates, geopolitical tensions, trade imbalances, and fiscal deficits accelerated the depreciation of the rupiah. Policy recommendations include targeted foreign exchange intervention by Bank Indonesia, monetary tightening in line with global trends, fiscal consolidation to reduce the budget deficit, and export diversification to mitigate external shocks.

This study aims to analyze the causal relationship between interest rates, exchange rates, and inflation in Indonesia during the period 1994–2023 using the Vector Error Correction Model (VECM) approach. The data used are monthly time series secondary data obtained from the World Bank. The Johansen cointegration test results indicate a long-term relationship among the three variables. However, the Granger causality test finds no significant short-term causal relationship. The VECM estimation reveals that inflation is the most responsive variable in correcting long-term disequilibrium, while the exchange rate plays a dominant role in influencing both inflation and interest rates. The Impulse Response Function and Variance Decomposition results indicate that these variables interact dynamically, especially in the medium to long term. These findings highlight the importance of exchange rate stabilization and enhancing the effectiveness of monetary policy to maintain macroeconomic stability in Indonesia.

Global economic issues have significantly impacted national economic progress in recent decades, especially for developing countries such as Indonesia.  Currency exchange rates are one of the main variables that influence this economic process.  The performance of a country's external sector is largely determined by the exchange rate, which also affects a number of other macroeconomic factors.  The purpose of this study is to see how much Indonesia's economic growth is affected by the exchange rate between 1980 and 2023. Data from government agencies including the Central Bureau of Statistics and Bank Indonesia are used in this quantitative approach using a literature study approach.  The findings show that changes in the value of the rupiah, especially when depreciation occurs, have a significant influence on a number of economic factors, such as imports, exports, inflation, domestic investment, and consumption.  The competitiveness of Indonesian export goods in the global market increases with the depreciation of the exchange rate. At the same time, however, it also leads to higher prices for imported goods, increases the burden of foreign debt, and depresses people's purchasing power and domestic investment activity. The last five years of data reflect the fluctuating pattern of Indonesia's international trade, which is closely related to exchange rate conditions and global economic dynamics. Exchange rate instability creates economic uncertainty, which can hamper long-term growth. Therefore, stabilizing the exchange rate and strengthening the export sector are important strategies, supported by monetary and fiscal policies that are adaptive to global changes.

The aim of this research is to analyze the influence of the exchange rate and BI rate on deposits. The population in this study is all exchange rate data, BI rate and deposits from commercial banks in Indonesia. Sampling was taken by taking monthly data from the exchange rate, BI rate and deposits available from January 2014 to December 2023. The results of hypothesis testing show that hypothesis 1 (H1) that the exchange rate has a negative effect on deposits is proven and can be interpreted as meaning that an increase in the exchange rate will reduce amount of deposits at commercial banks in Indonesia. Hypothesis 2 (H2) that the BI rate has a positive effect on deposits is proven and can be interpreted to mean that an increase in the BI rate will increase the number of deposits at commercial banks in Indonesia.

This study examines the dynamics of monetary policy and economic diplomacy in maintaining the stability of the Rupiah exchange rate in the context of Indonesia’s international financial market. Indonesia’s economic stability is closely tied to the Rupiah’s value, which is influenced by both domestic economic policies and external global factors. The study analyzes the effectiveness of various monetary policy instruments used by Bank Indonesia, such as the benchmark interest rate, foreign exchange market interventions, open market operations, and minimum reserve requirements. Furthermore, it explores the role of economic diplomacy, including bilateral swap agreements and international cooperation, in enhancing Indonesia's foreign exchange reserves and stabilizing the Rupiah. Despite these efforts, external challenges such as global economic uncertainty, commodity price volatility, and geopolitical tensions continue to pose risks to exchange rate stability. The study concludes with strategic recommendations for strengthening monetary policy, including diversification of foreign exchange revenue, enhancing domestic financial markets, and fostering synergy between fiscal and monetary policies.

Exchange rate stability is an important indicator in maintaining the balance of a country's economy, especially in facing global market dynamics. This research aims to analyze the effectiveness of sharia monetary policy instruments in maintaining exchange rate stability, with a focus on the principles of justice, transparency and stability which are the basis of the Islamic economic system. Instruments such as sukuk, mudarabah contracts, and ijarah are analyzed from theoretical and empirical perspectives to measure their impact on exchange rate fluctuations. This study uses a qualitative approach with analysis of secondary data obtained from various economic reports, scientific journals and related statistical data. The research results show that sharia monetary policy has significant potential in mitigating exchange rate volatility through stable liquidity management and a system free from speculation. Consistent implementation of sharia principles can also increase market confidence in the domestic currency. Furthermore, this research finds that integration between sharia monetary policy and conventional approaches can create synergy in maintaining exchange rate stability. This collaboration allows the monetary authority to be more flexible in responding to global economic challenges without abandoning sharia principles. Apart from that, educating market players regarding the benefits of sharia monetary policy is considered important to expand the adoption of this instrument. This study concludes that the successful implementation of sharia monetary policy is highly dependent on the commitment of the government and regulators in providing a conducive ecosystem, including financial infrastructure, strengthening regulations, and integrated policy support. This research provides theoretical and practical contributions in the development of sharia-based monetary policy in countries with dual economic systems.

This study aims to assess the impact of exchange rate fluctuations on the consolidated statements of PT Mayora Indah Tbk. At PT Mayora Indah Tbk, exchange rate fluctuations have a major influence on financial statements, this can happen because of the influence of global commodity prices where subsidiaries are located abroad, third party cooperation for export sales, loans and also the cost of purchasing the main raw materials for the company's production. The method used in this research is qualitative research, where the object of research is PT Mayora Indah Tbk. Collecting data and information using library research methods and PT Mayora Indah Tbk data taken from the annual consolidated financial statements of PT Mayora Indah Tbk. The results showed that the treatment of foreign exchange and foreign currency differences at PT Mayora Indah Tbk, is in accordance with the applicable PSAK.

Penelitian ini bertujuan untuk mengeksplorasi faktor makroekonomi yang mempengaruhi ekspor di Indonesia. Data yang digunakan dalam penelitian ini adalah data sekunder yaitu data ekspor, inflasi, suku bunga, dan nilai tukar pada periode 1998-2022 yang dipublikasikan oleh Badan Pusat Statistik dan Bank Indonesia. Penelitian ini menggunakan pendekatan kuantitatif. Metode analisis data yang digunakan dalam penelitian ini adalah model Vector Error Correction Model (VECM) dengan data time series, data diolah dengan menggunakan program eviews 10. Hasil pengujian VECM dalam jangka panjang inflasi berpengaruh positif dan signifikan terhadap ekspor, suku bunga berpengaruh negatif dan signifikan terhadap ekspor. Untuk jangka pendek inflasi berpengaruh negatif dan signifikan terhadap ekspor, suku bunga berpengaruh positif dan signifikan terhadap ekspor, dan nilai tukar pada jangka panjang dan pendek berpengaruh negatif dan tidak signifikan terhadap ekspor.

The phenomenon of poverty often occurs in every country, especially in developing countries. The level of poverty in a country depends on two main factors, namely the average level of national income and the width of the income distribution gap. Poverty cannot only be measured through income national per capita because per capita income calculates the average income of people in a country. The high level of per capita national income in a country, if the distribution of income is unequal then the level of poverty in that country cannot be avoided, and vice versa, no matter how equal the distribution of income in a country is, if the average level of national income is low, then poverty will also become more widespread. This research aims to determine the effect of minimum wages, farmer exchange rates, and inflation in the primary sector, secondary sector and tertiary sector on poverty on the island of Java. This research uses quantitative research methods using secondary data sourced from the Central Statistics Agency (BPS), using panel data analysis techniques.  In this research, it was found that economic factors such as the Provincial Minimum Wage (UMP), Farmer Exchange Rate (NTP), and the inflation rate had a significant influence on the poverty level on the island of Java in the 2017-2022 period.

Stock market can be fluctuate and uncontrolled depends on many internal and external factors.  The fluctuation itself can bring impact to capital market entities and the economy. This study focused for investigate the effects of inflation, interest rate, and domestic exchange rate on INFOBANK15 price stock during the 2018 – 2022 periods. This study collects data from Indonesia Stock Exchange which can be downloaded from idx.co.id. A quantitative approach to analyze the data and using SPSS as the tools. The result indicate that inflation has no effect to price stock, interest rate and exchange rates gives negative effect to stock prices.