Exchange rates affect trade balance, inflation, foreign debt, and economic growth in Indonesia. The study used data from BPS and Indonesian Bank, analyzing the impact through multiple linear regression. Results show that exchange rate has a negative effect on trade balance, inflation, and economic growth, but a positive effect on foreign debt. Exchange rates indirectly impact economic growth through trade balance, inflation, and foreign debt. It is crucial to stabilize the rupiah exchange rate to control imported raw material costs and balance of payments deficit.