PENGARUH NILAI TUKAR (KURS) USD/IDR, TINGKAT SUKU BUNGA SBI, INFLASI DAN JUMLAH UANG YANG BEREDAR (M2) TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) DI BURSA EFEK INDONESIA (BEI)

Abstract

This study aims to see the development of the Indonesian capital market, one indicator that
is often used is the Composite Stock Price Index (CSPI), which is one of the stock market
index used by the Indonesian Stock Exchange (BEI).The analytical tool used in this
research is multiple linear regression Composite Stock Price Index (JCI) as the dependent
variable and four independent variables, the variable rate (rate) USD / IDR, SBI interest
rate, inflation and the money supply (M2 ).Based on the results SPSS calculations obtained
Fcount F = 47.313 with a significance of 0.000. By using a significance level of 0.05 was
obtained value of F table 3,06. Then Fcount (47.313)> F table (3.06), or the significance of
F 0,000 showed less than 0.05 so it can be concluded that the four independent variables are
the exchange rate (exchange rate) USD / IDR, SBI interest rate, inflation and the money
supply (M2) jointly affect the Composite Stock Price Index (CSPI) in Indonesia Stock
Exchange (BEI). Partial variable rate (rate) USD / IDR and the money supply (M2)
significantly. While the variable interest rate of SBI and inflation is not significant. And of
the four variables of the most dominant influence on Composite Stock Price Index in the
Indonesia Stock Exchange (BEI) is the exchange rate (exchange rate) USD / IDR. With
tcount of -3.433 and significance probability of 0.004.
Keywords: JCI, Exchange Rates, Interest Rates, Inflation, Money Supply