COVID-19 is one of the major pandemic disasters that really has a snowball effect and simultaneous effects on all aspects of life. One of those affected by this pandemic is the occurrence of a fairly deep exchange rate movement in 2020. The purpose of this study is to analyze how the capital market reacts to LQ45 companies with an approach to IHSGLQ45 on the movement of the Rupiah exchange rate against the dollar by using quantitative data presented in the form of time-series data. The data used were companies listed on LQ45 on the Indonesia Stock Exchange in the period April 2020 to July 2021. The results of this study indicate that during this pandemic the depreciation of the rupiah against the dollar that occurred running into the capital market occurred due to companies that have going public on the IDX which most of them have foreign debt in the form of foreign currency (forex). In addition, the going public produce products that use a lot of imported materials. This depreciation of the exchange rate resulted in an increase in the amount of company debt and production costs incurred in rupiah currency which would lead to declining company profitability in the end.