THE IMPACT OF MONEY SUPPLY AND THE RUPIAH EXCHANGE RATE ON INFLATION (PERIOD: JANUARY 2015 – DECEMBER 2022)

Authors

  • Ria Kusumaningrum Fakultas Ekonomi dan bisnis Islam Institut Agama Islam Sahid Bogor
  • Susi Melinasari Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Sahid Bogor
  • Hafid Fadilah Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Sahid Bogor
  • Keris Kartono Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Sahid Bogor

DOI:

https://doi.org/10.56406/sahidbankingjournal.v5i1.274

Keywords:

Money Supply, Rupiah Exchange Rate (Cr), Inflation

Abstract

Inflation is one of the most important financial events In general, inflation incurs many costs that must be borne by society One way to control inflation is to influence the variables of money supply and exchange rate (Kurs)... method of quantitative approach using analysis Time series data analysis (2015-2022) shows differences in the influence of monetary variables on inflation in Indonesia. In the long run, a 1-point rupiah depreciation increases inflation by 0.0003%, while a 1 trillion rupiah increase in narrow money supply (M1) increases inflation by 0.125%. Broad money (M2) is not significant. In the short term, monetary variables (exchange rate, M1, M2) have no significant effect, indicating a time lag of policy transmission. The error correction mechanism (ECT -0.621) indicates automatic adjustment towards long-run equilibrium at a rate of 62.1% per month

References

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Published

2025-10-30

How to Cite

Kusumaningrum, R., Melinasari, S. ., Fadilah, H. ., & Kartono, K. (2025). THE IMPACT OF MONEY SUPPLY AND THE RUPIAH EXCHANGE RATE ON INFLATION (PERIOD: JANUARY 2015 – DECEMBER 2022). SAHID BANKING JOURNAL, 5(1), 114–126. https://doi.org/10.56406/sahidbankingjournal.v5i1.274

Issue

Vol. 5 No. 1 (2025): OCTOBER 2025

Section

BIBLIOGRAPHY

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Copyright (c) 2025 Ria Kusumaningrum, Susi Melinasari, Hafid Fadilah, Keris Kartono

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This work is licensed under a Creative Commons Attribution 4.0 International License.

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