PENGARUH FOREIGN DIRECT INVESMENT (FDI), UTANG LUAR NEGERI, DAN EKSPOR TERHADAP CADANGAN DEVISA INDONESIANIM.: 22108010073Maya Ismiati SholekahauthorForeign exchange reserves constitute national savings and are an important indicator of a country's economic strength and resilience. This study aims to analyze the short and long-term effects of foreign direct investment (FDI), foreign debt, and exports on Indonesia's foreign exchange reserves from 1989-2024. The data.used.are time.series.data obtained from the Central Statistics Agency (BPS) and analyzed using the Error Correction Model (ECM). The results show that in the short term, FDI has no effect, while foreign debt and exports have a.significant.positive.effect..In.the.long term, FDI has a.significant.negative.effect, while foreign debt and exports have a significant positive effect on Indonesia's foreign exchange reserves.337 Ekonomi Internasional2026-05-25UIN SUNAN KALIJAGA YOGYAKARTA;FAKULTAS EKONOMI DAN BISNIS ISLAMThesis