Stabilitas Nilai Tukar Setelah Krisis Global 2008
Abstract
The exchange rate stability is an important variable in the economy, where the economic fundamentals will greatly affect the exchange rate. Level of the currency stability indicated by volatility. The higher level of volatility means more unstable currencies, and vice versa. Stability can be seen as a short-run and long-run. To see how the characteristics of the currency stability, to be more visible in case of shock, such as the global financial crisis in 2008. In the case of USDIDR and EURUSD, short-run USDIDR is more stable than EURUSD, because USDIDR as inconvertible currencies which have relatively fewer number of transactions, while EURUSD as convertible currencies, which have a relatively larger number of transactions, and as the major currencies, lack of stability in short-run. But in long-run, EURUSD is more stable than USDIDR, indicates fundamentally that goup of countries that using EURUSD better than Indonesia’s fundamental that using USDIDR.
Moraref