Currency fluctuations and its impact on international business

Abstract

This qualitative primary data-based exploratory study had a total of three objectives. The first objective was to investigate how exchange-rate changes affect the economies of different countries. In order to get a regional focus for comparison, the study emphasized impacts in the South Asian country India as well as the UK and the USA. This helped the researcher to get a comparative analysis between these nations' currencies and exchange rates to address the second objective of this research. Lastly, the effect of such fluctuations on the international market was the third objective here.

The sources of data included interview responses from 13 individuals from India, Pakistan, Nepal and Finland who are frequent travelers due to study or work purposes. The usage of online travel agencies of the participants was also taken into consideration because it allowed them to understand differences in exchange rates before and after the COVID-19 pandemic. Research findings suggest that changes in currency rates have a large impact on global economies. Exchange rates influence travel decisions, cost of products and services, lower travel-related prices in tourism-dependent regions.