Abstract :
Financial distress is a condition where the company is in a position of overall financial difficulty which can lead to bankruptcy. Financial distress is one of the most important problems in all business sektors. Currently, the issue of financial distress is a concern for business people because it illustrates the ability of business continuity during the Covid-19 pandemi that occurred in early 2020. This study aims to analyze the macroeconomic impact of inflation and exchange rates on the dependent variabel, namely Financial Distress. This study compares two periods, the period before Covid-19 (2017-2019) and the period during the Covid-19 period (2018-2021). This study uses a purposive sampling method which produces a sample of 59 Non-Cyclicals companies classified as sektor D listed on IDX-IC. This study uses multiple regression analysis in testing the hypothesis. The results show that macroeconomic variabels proxied by inflation and exchange rates have no effect on financial distress in the period before Covid-19 (2017-2019), but inflation and exchange rates have a negative effect on financial distress during the Covid-19 period. (2018-2021).