ANALYSIS OF THE INFLUENCE OF INFLATION, INTEREST RATES AND RUPIAH EXCHANGE RATES ON THE COMBINED STOCK PRICE INDEX (IHSG)

This research analyzes the influence of Inflation, Interest Rates, and Rupiah Exchange Rates on the Combined Stock Price Index (IHSG) on the Indonesian Stock Exchange (BEI) during 2019-2023. This type of research is quantitative data analysis. The data used in this research are secondary data using multiple linear regression analysis methods, correlation coefficients, and determination coefficients. Based on the results of multiple linear regression analysis, the equation Y = 14.209 + 4.610X1 4.231X2 0.561X3 was obtained with a test result of F at grade 17.233. Test value results for inflation value at parcel 4,733, interest rate at parcel 4,638, and exchange rate at parcel 1,621. The adjusted R square value was 45.2% while the remaining 54.8% was influenced by other variables that were not included in this study. The conclusions of this research show that simultaneously inflation, interest rates, and the Rupiah exchange rate have a significant effect on the combined share price index. Partially, inflation has a positive and significant effect on the combined share price index, interest rates have a negative and significant effect on the combined share price index, and the rupiah exchange rate has a negative and insignificant effect on the combined share price index.