ANALISIS STRATEGI ADAPTASI PERUSAHAAN MULTINASIONAL INDONESIA DALAM MENGHADAPI VOLATILITAS NILAI TUKAR RUPIAH TERHADAP DOLAR AMERIKA SERIKAT: STUDI KASUS PADA SEKTOR MANUFAKTUR
Published 2025-12-31
Keywords
- indonesia
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Abstract
The volatility of the Rupiah exchange rate against the US Dollar represents one of the most complex and significant external risks faced by multinational corporations operating in Indonesia, particularly within the manufacturing sector. This sector maintains a high dependency on international trade activities, involving both the import of raw materials and the export of finished goods, making it highly vulnerable to exchange rate fluctuations. Unstable exchange rate movements can directly impact production cost structures, cash flows, profitability, and the company's competitiveness in the global market. A company's inability to effectively manage exchange rate risk has the potential to create financial uncertainty and diminish long-term performance. This study aims to provide an in-depth analysis of the adaptation strategies implemented by multinational manufacturing companies in Indonesia in response to the volatility of the Rupiah against the US Dollar. The research utilizes a qualitative approach with a case study method. Data were obtained through the analysis of corporate documents and a literature review of relevant national and international scientific journals. The results indicate that multinational corporations implement comprehensive and integrated adaptation strategies, including financial strategies through the use of hedging instruments, operational strategies through export market diversification and cost structure adjustments, and foreign currency-based cash flow management. The integration of financial and operational strategies is proven to minimize the negative impacts of exchange rate volatility and maintain the stability of the company's financial performance in both the short and long term.
Keywords: exchange rate volatility, adaptation strategy, multinational corporations, manufacturing sector, hedging.
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