The Effect of Inflation, Interest Rates and Exchange Rates on INFOBANK15 Stock Prices

Banking is one of the main industries that is able to boost the economic level of a country. The role of banking as an intermediary institution is a very important role in society. This research aims to determine the effect of inflation, exchange rates and interest rates on share prices in the banking sub-sector listed in the INFOBANK15 index. The observation period is in 2023 with inflation and interest rate indicators obtained through Bank Indonesia reports. The exchange rate indicator is obtained by comparing the Rupiah exchange rate against the US Dollar. Share prices are obtained through Indonesian Stock Exchange reports using the closing price at the end of each month. This research is quantitative research using purposive sampling as a sample determination method and obtained 13 samples from 15 banking sub-sector companies included in the INFOBANK15 index. The data analysis method uses multiple linear regression analysis with the SPSS version 24 program. The research results conclude that inflation has a positive effect on stock prices, exchange rates have a positive effect on stock prices and interest rates have a positive and significant effect on stock prices.