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ANALYSIS OF EFFECT OF MONETARY OPERATIONS ON RUPIAH EXCHANGE RATE'S VOLATILITY AGAINST THE US DOLLAR
Goal : This research aims to analyze the effect of monetary
operation variables, namely SBIS (Bank Indonesia Sharia
Certificates), SRBI (Bank Indonesia Rupiah Securities) and
Foreign Exchange Reserves on the volatility of the rupiah
exchange rate against the US Dollar.
Method : By using the Vector Autoregressive (VAR) method, this
research analyzes whether there is an influence between
SBIS (Bank Indonesia Sharia Certificates), SRBI (Bank
Indonesia Rupiah Securities) and Foreign Exchange
Reserves on the volatility of the rupiah exchange rate against
the US Dollar. Within thirty-four weeks.
Finding : In this research, it was found that the variables SRBI and
foreign exchange reserves have a significant positive
influence in the long term on the volatility of the rupiah
exchange rate against the US dollar. Meanwhile, SBIS has a
significant negative influence in the long term on the
volatility of the rupiah exchange rate against the US dollar.
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