The Influence of Money Demand on the Rupiah Exchange Rate Ahead of Eid
Pengaruh Permintaan Uang terhadap Nilai Tukar Mata Uang Rupiah Menjelang Lebaran
Keywords:
demand for money, exchange rate, rupiah currency, eidAbstract
This study aims to examine whether the demand for money has an effect on the Rupiah exchange rate, especially ahead of the celebration. The demand for money increases as the Lebaran celebration approaches due to the tradition of giving THR, shopping for Lebaran needs, and preparing for going home. Lebaran is one of the celebrations in the culture and traditions of the Indonesian people, especially Muslims. The demand for money in the community tends to increase, this is influenced by economic activity and overall consumption patterns. This research uses quantitative methodology. The type of data used is secondary data sourced from the BI rate which shows inflation data every month. Then the Normality Test and One Sample T-Test Test using SPSS and the decision making is based on the significance value. The results showed a significant positive correlation between money demand and the Rupiah exchange rate although the R-squared was relatively low. Based on the results showed that the increase in demand for money ahead of the Lebaran holiday can affect the Rupiah exchange rate against foreign currencies. This is due to Lebaran traditions such as giving THR, spending on Lebaran needs, preparing for homecoming, giving salaries and bonuses, as well as trade and investment activities related to the holiday.
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