Tujuan penelitian ini adalah untuk mengetahui neraca pembayaran Indonesia terhadap nilai tukar rupiah terhadap dollar US tahun 2005-2019, untuk mengetahui neraca pembayaran Malaysia terhadap nilai tukar ringgit terhadap dollar US tahun 2005-2019. Data yang digunakan adalah data sekunder, dengan melihat neraca pembayaran Indonesia dan Malaysia. Metode analisis yang digunakan adalah regresi linier berganda. Hasil analisis data Indonesia yang di lakukan bahwa uji hipotesis (uji t) menunjukkan neraca perdagangan Indonesia tidak berpengaruh signifikan terhadap nilai tukar rupiah terhadap dollar US. Neraca arus modal Indonesia berpengaruh signifikan terhadap nilai tukar rupiah terhadap dollar US. Neraca upah Indonesia tidak berpengaruh signifikan terhadap nilai tukar rupiah terhadap dollar US. Secara simultan terdapat pengaruh antara neraca perdagangan Indonesia, neraca arus modal Indonesia dan neraca upah Indonesia terhadap nilai tukar rupiah terhadap dollar US. Hasil analisis data Malaysia yang di lakukan bahwa uji hipotesis (uji t) menunjukkan neraca perdagangan Malaysia berpengaruh signifikan terhadap nilai tukar ringgit terhadap dollar US. Neraca arus modal Malaysia berpengaruh signifikan terhadap nilai tukar ringgit terhadap dollar US. Neraca upah Malaysia tidak berpengaruh signifikan terhadap nilai tukar ringgit terhadap dollar US. Secara simultan terdapat pengaruh antara neraca perdagangan Malaysia, neraca arus modal Malaysia dan neraca upah Malaysia terhadap nilai tukar ringgit terhadap dollar US.

The purpose of this study is to determine Indonesia's balance of payments against the rupiah exchange rate against the US dollar in 2005-2019, to determine Malaysia's balance of payments against the ringgit exchange rate against the US dollar in 2005-2019. The data used is secondary data, by looking at the balance of payments of Indonesia and Malaysia. The analytical method used is multiple linear regression. The results of the Indonesian data analysis that were carried out were that the hypothesis test (t test) showed that Indonesia's trade balance had no significant effect on the exchange rate of the rupiah against the US dollar. Indonesia's capital flow balance has a significant effect on the rupiah exchange rate against the US dollar. Indonesia's wage balance has no significant effect on the exchange rate of the rupiah against the US dollar. Simultaneously there is an influence between Indonesia's trade balance, Indonesia's capital flow balance and Indonesia's wage balance on the exchange rate of the rupiah against the US dollar. The results of the Malaysian data analysis that were carried out were that the hypothesis test (t test) showed that Malaysia's trade balance had a significant effect on the ringgit exchange rate against the US dollar. Malaysia's capital flow balance has a significant effect on the ringgit exchange rate against the US dollar. Malaysia's wage balance has no significant effect on the exchange rate of the ringgit against the US dollar. Simultaneously there is an influence between Malaysia's trade balance, Malaysia's capital flow balance and Malaysia's wage balance on the exchange rate of the ringgit against the US dollar.