Examining the Impact of Covid-19 on Rupiah Exchange Rates and Joint Stock Price Index: A Comprehensive Analysis using Paired Sample T-Test and Vecm

Abstract

This research aimed to determine the simultaneous and partial impact before and during the occurrence of COVID-19 on the movement of the rupiah exchange rates and the Joint Stock Price Index (IHSG), both in the long and short term. A descriptive quantitative approach was used while data were collected through documentation. Moreover, the analytical method used was Paired Sample t-test and Vector Error Correction Model (VECM). The results indicated there was a significant simultaneous and partial change in the impact of the rupiah exchange rates and the Jakarta Composite Index (JCI) before and during the long-term COVID-19 pandemic.