Stress and Anxiety in Individuals: A Study on the Psychological Effects of Currency Volatility in India
Main Article Content
Abstract
The study in question explores the psychological impact of currency volatility on individuals in India, specifically focusing on stress and anxiety. As currency volatility becomes an increasingly prevalent concern in the global economic landscape, even rapidly growing economies like India are not immune to its effects. This research seeks to illuminate the often-neglected human aspect of currency fluctuations and their repercussions on mental well-being The research employs a mixed-methods approach, combining quantitative surveys and qualitative interviews to gather comprehensive data. A diverse sample of participants from various backgrounds and professions is chosen to ensure a representative analysis. In the quantitative phase, standardized psychological assessment tools are used to measure stress and anxiety levels among participants during periods of both currency stability and volatility. Preliminary findings suggest a significant link between currency volatility and elevated stress and anxiety levels among participants. The qualitative phase, conducted through in-depth interviews, delves into the lived experiences, coping mechanisms, and behavioral responses of individuals impacted by currency fluctuations. It highlights the multifaceted nature of stress and anxiety, considering economic uncertainties, financial insecurities, and societal pressures.
In conclusion, this research sheds light on the intricate relationship between currency volatility and psychological well-being in India. It provides valuable insights into the stress and anxiety experienced by individuals amidst economic uncertainties, emphasizing the necessity of a holistic approach to address the human dimension of financial instability. The study notes that the Indian rupee experiences significantly higher volatility compared to selected Asian currencies, revealing the potential destabilizing impact of foreign investors on the Indian rupee exchange rate.