Indonesia's Islamic capital market has been on the rise since its inception. The launch of the JII not only marks the birth of the first sharia instrument in Indonesia, but also facilitates investors who want to invest according to sharia principles. This study aims to determine how the influence of Inflation, Exchange Rate and Foreign Ownership on the movement of the Jakarta Islamic index. The method used in this research is a quantitative method using the Vector Error Correction Model (VECM) approach and using the Eviews 12 test tool. The data used in this study uses secondary data with time series data from the period October 2021 to September 2024, where the Jakarta Islamic Index is used as the dependent variable while Inflation, Exchange Rate and Foreign Ownership are the Independent variables. Based on the theoretical study, the hypotheses in this study are: H1: The inflation rate has a negative effect on the movement of the Jakarta Islamic Index, H2: The exchange rate has a negative effect on the movement of the Jakarta Islamic Index, H3: Foreign securities ownership has a positive effect on the Jakarta Islamic Index. The results of this study are in the long term Inflation has a negative and significant effect on the Jakarta Islamic Index while the Exchange Rate has a positive and insignificant effect in the long term on the Jakarta Islamic Index variable while Foreign Ownership has a positive and significant effect in the long term on the Jakarta Islamic Index. Keywords: Macroeconomics, Vector Error Correction Model, Capital Market, Exchange Rate.