Abstract

This study aims to determine whether the spot exchange rate and forward exchange rate, either partially or simultaneously influence the projection of the futures exchange rate on the rupiah against the dollar. The data include spot exchange rate , the forward exchange rate and the future spot rate using middle rate value from the the Bank Indonesia for the Rupiah exchange rate against the US Dollar.The results of this study indicate that the spot exchange rate has a positive effect on the projected futures exchange rate on the rupiah against the dollar, the forward exchange rate has a negative effect on the projected futures exchange rate on the rupiah against the dollar, spot exchange rate and forward exchange rate collectively have a positive effect on the projected futures exchange rate on the rupiah against the dollar.

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