Pengaruh Transaksi Non-Tunai dan Nilai Tukar Terhadap Jumlah Uang Beredar di Indonesia Periode 2021-2025

Abstract

The rapid transformation of Indonesia’s payment system toward digital payment system toward digital paymen instruments has significantly increased the us of non-cash transactions in various economic activities. The develompent is expected to influence the dynamics of the money supply, while exchange rate fluctuations also pay an important role ini maintaining monetary stability. This study aims to examine the effect of non-cash transactions and the exchange rate on the money suppy in indonesia during the 2021-2025 period. A quantitative approach was employed using mothly secondary data obtained from Bank Indonesia and Statistics Indonesia, resulting in 60 observations. The data were analyzed using multiple linear regression with IBM SPSS Statistics. The results indicate that non-cash transactions have positive and significant effect on the money supply, whereas the exchange rate does not have a significanct partial effect. Nevertheless, the two variables jointly have a significant effect on the money supply. The coefficient of determination indicates that the proposed model explains 98,9% of the variation in the money supply, while the remaining 1,1% is explained by factors outside the research model. These findings suggest that the develompment of non-cash transactions plays a more subtantial role than exchange rate fluctuations in explaining changes in Indonesia’s money supply. The findings are expected to provide useful insigths of Bank Indonesia and governmentin supporting the development of digital payment system while maintaining monetary stability.