PENGARUH INFLASI DAN NILAI TUKAR RUPIAH TERHADAP HARGA SAHAM YANG TERINDEKS DI JAKARTA ISLAMIC INDEX (JII) TAHUN 2020-2022

Abstract

The Influence of Inflation and the Rupiah Exchange Rate on Stock Prices Indexed in the Jakarta Islamic Index (JII) in 2020-2022.

JII is the answer to the wishes of investors who want to invest according to sharia and as a guide for investors who want to invest their money according to sharia without fear of being confused with usury. Apart from that, JII is a performance indicator (benchmark) in selecting a Halal stock portfolio. Companies registered as members of the Jakarta Islamic Index (JII) are relatively new and continue to change, as evidenced by the 2020-2022 data showing that every 6 months a periodic evaluation is carried out on the 30 issuers included in the Jakarta Islamic Index calculations which are selected from the sharia share list as stated in has been determined by the Financial Services Authority.

The aim of this research is to examine, determine and explain the influence of Indonesia's macro economy, namely inflation and the Rupiah exchange rate on share prices indexed in the Jakarta Islamic Index (JII). The research period used is from 2020 to 2022. The data used in this research is secondary data obtained from the websites www.bi.go.id and www.idx.co.id, namely the BI Rupiah Exchange Rate Report, BI Inflation , and JII.

The results of this research show that the Inflation Variable (X1) has a significant effect on Stock Prices Indexed on JII seen from the results of the t test analysis of the Inflation variable which has an effect of 0.904 or 90.4%, the tcount value is 6.030> ttable 2.036 with a significant level of 0.00 < 0.05 then the hypothesis is accepted, the Rupiah Exchange Rate (X2) has a significant effect on JII Indexed Share Prices of -0.823 or -82.3%, the tcount value is -5.492 < ttable 2.036 with a significance level of 0.00 < 0.05 then The hypothesis is accepted. The conclusion of this research shows that the Inflation Variable (X1) and the Rupiah Exchange Rate (X2) have a significant effect on Stock Prices Indexed in the Jakarta Islamic Index (JII), so the hypothesis is accepted.