The influence of foreign debt, exchange rate and export values on Indonesia's foreign exchange reserves

This research aims to determine the influence of government foreign debt, private foreign debt, exchange rate and export value on Indonesia's foreign exchange reserves. The data used in this research is secondary data by collecting data from the Central Statistics Agency and Bank Indonesia for the period 2007 to 2023. The data analysis method used in this research was multiple linear regression. Based on the results of this analysis, this research shows that partially government foreign debt and private foreign debt have a positive and significant effect on Indonesia's foreign exchange reserves, the exchange rate has a negative and significant effect on Indonesia's foreign exchange reserves and the value of exports has a positive and insignificant effect on Indonesia's foreign exchange reserves. . Meanwhile, simultaneously government foreign debt, private foreign debt, the exchange rate and the value of exports have a significant effect on Indonesia's foreign exchange reserves. The results of the coefficient of determination (R2) value show 0.926, which means that Indonesia's foreign exchange reserves are influenced by government foreign debt, private foreign debt, the exchange rate and export value by 90% while the remaining 10% is influenced by other factors not included in this research.