This study aims to determine the effect of selected macroeconomic variables, i.e., the USD / IDR exchange rate and interest rates on the composite stock price index during the Covid-19 pandemic in Indonesia. This paper examines the direct effect of selected macroeconomic variables on the Jakarta Composite Index. This study used time series data from February-July 2020. By using regression technique analysis, the result of the study showed that simultaneously the exchange rate and interest rates have a significant effect on Jakarta Composite Index. Partially, only interest rate have a significant effect on the Jakarta Composite Index, and exchange rates have no significant effect on the Jakarta Composite Index. The amount of influence caused by the two variables is 73% and the rest is explained by other variables.
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