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Pengaruh “Kejutan” Dari Berita Makro Ekonomi Terhadap Pergerakan Nilai Tukar Rupiah

Author

Listed:
  • Untoro

    (Bank Indonesia)

Abstract

Salah satu penyebab terjadinya gejolak nilai tukar adalah adanya “kejutan” yang timbul dari perbedaan persepsi dari pelaku pasar dengan pihak otoritas yang bertanggung jawab terhadap data makro ekonomi baik data makro ekonomi Amerika maupun data makro ekonomi Indonesia. “Kejutan” yang terjadi dari setiap pengumuman data makro ekonomi pada dasarnya mencerminkan sentimen pasar atas data makro ekonomi yang dikeluarkan. Dalam kajian menunjukkan bahwa tidak semua berita makro ekonomi menimbulkan “kejutan” yang berdampak kepada gejolak nilai tukar Rupiah. Gejolak nilai tukar Rupiah secara signifikan terjadi ketika diumumkan data makro ekonomi Amerika berupa data GDP, trade balance, dan consumer confidence, serta ketika diumumkannya data makro ekonomi Indonesia yaitu M1, M2, CPI, WPI dan GDP. Terbatasnya data makro ekonomi Amerika yang mempengaruhi gejolak nilai tukar Rupiah, terjadi karena pelaku pasar sudah melakukan antisipasi terhadap besarnya data makro ekonomi yang dimumkan, dimana waktu pelaksanaan pengumuman data makro ekonomi Amerika mengalami perbedaan waktu dengan beroperasinya pasar valas Jakarta.

Suggested Citation

  • Untoro, 2006. "Pengaruh “Kejutan” Dari Berita Makro Ekonomi Terhadap Pergerakan Nilai Tukar Rupiah," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 9(1), pages 5-26, July.
  • Handle: RePEc:idn:journl:v:9:y:2006:i:1:p:5-26
    DOI: https://doi.org/10.21098/bemp.v9i1.150
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    Keywords

    nilai tukar; news;

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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