Fluctuation of Rupiah Exchange Value, Interest Rate, and Changes in Share Price

Changes in stock prices in the capital market are influenced by internal and external factors. The fluctuation in the BI Rate in recent years is expected to be able to maintain the rupiah exchange rate and respond to spikes in inflation. This research was conducted to analyze how the influence of the rupiah exchange rate and interest rates on changes in stock prices of manufacturing companies in the Consumer Goods Sector on the IDX during the 2014- 2018 period. The object of this research is the Consumer Goods Sector Manufacturing Company listed on the Indonesia Stock Exchange (IDX) for the 2014-2018 period. The sample selection used a purposive sampling method, with a total of 32 (thirty-two) companies during the 2014-2018 period. The research objective was to determine the effect
of exchange rates and interest rates on stock price changes. The data analysis technique used multiple regression analysis. Based on the results of statistical analysis it can be concluded (1). The Rupiah Exchange Rate has a positive and significant effect on stock prices, (2). Interest rates have a negative and significant effect on stock prices, (3). The Rupiah Exchange Rate and Interest Rate simultaneously have a significant effect on share prices and with a coefficient of determination of 0.9501 this value means that 95.01% of share prices during 2014-2018 are influenced by exchange rates and interest rates. While the remaining 4.99% change in share price value in 2014-2018 is influenced by other variables.