The Influence Of Investment, Inflation, And Exports On Foreign Exchange Reserves In Asian Countries In 2018-2022 In The Perspective Of Islamic Economics

Foreign exchange reserves are a means of payment in international trade in the form of foreign exchange managed by the central bank. Foreign exchange reserves in several developing countries in the Asian region have increased every year but investment, inflation, and exports have fluctuated, so it is necessary to conduct more in-depth research on the effect of investment, inflation, and exports on foreign exchange reserves in four developing countries in Asia. This study aims to determine how investment, inflation and exports simultaneously and partially affect the foreign exchange reserves of Asian countries. The research method used is quantitative panel data analysis with area sampling technique (Cluster Sampling). The results of this study indicate that the investment variable has a positive and significant effect, the inflation variable has a negative and significant effect, and the export variable has a positive and significant effect on foreign exchange reserves. Investment, inflation, and exports simultaneously affect foreign exchange reserves with a probability of 0.00051. In Islam, maintaining the stability of foreign exchange reserves needs to be considered because Tasarruf alImam "ala Ra "iyyah Manutun bi alMashlahah (every government action related to the people is always related to their benefit).