July 2024 Edition
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July 2024 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#3121
Consider the following statements about the Indian rupee market conditions on July 24, 2026: 1. The Indian rupee reached a new all-time record low during the trading session. 2. The Reserve Bank of India conducted interventions in both the spot and non-deliverable forwards markets. 3. Brent crude oil prices retreated by approximately 4 percent after initially topping 100 dollars per barrel. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is incorrect because the rupee avoided a record low, remaining near the May record of 96.96. Statements 2 and 3 are factually accurate descriptions of the market intervention and oil price movements reported on that date. [Source: https://www.brecorder.com/news/40431635/intervention-shields-indian-rupee-in-face-of-oil-hedging-strain, 24 Jul 2026]
#3122
Which of the following statements regarding the US-EU trade tensions in July 2026 is INCORRECT?
(a) The US Trade Representative Jamieson Greer supported the EU's enforcement action as a boost to transatlantic trade.
(b) The European Commission's fine against Google was the first penalty under the Digital Markets Act.
(c) The US administration announced new tariffs of 10 to 12.5 percent on 60 trading partners.
(d) President Trump threatened to initiate a Section 301 investigation into the EU's antitrust practices.
Explanation: US Trade Representative Jamieson Greer actually criticized the EU's decision, stating that it undermined constructive dialogue and posed a risk to trade stability, making the incorrect statement. [Source: https://www.dawn.com/news/2018219/trump-says-eu-to-pay-very-big-price-for-google-fine, 25 Jul 2026]
#3123
Which Indian financial institution experienced its steepest weekly decline in 2-1/2 years on July 24, 2026?
(a) Axis Bank
(b) ICICI Bank
(c) HDFC Bank
(d) State Bank of India
Explanation: HDFC Bank recorded a 9.4% decline, marking its sharpest weekly drop in 2-1/2 years due to investor concerns regarding margins. Axis Bank also declined, but HDFC Bank was identified as the primary weight on the benchmark indexes. [Source: https://www.brecorder.com/news/40431634/indian-shares-log-weekly-losses-as-crude-climbs-hdfc-bank-tumbles, 24 Jul 2026]
#3124
Consider the following statements about the Indian market performance on July 24, 2026: 1. The BSE Sensex recorded its steepest drop in two months. 2. Private banks and financial sectors were among the worst-performing segments. 3. Brent crude prices briefly crossed $100 a barrel during the week. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate based on the market report. The Sensex lost 2.7% (steepest in two months), financial sectors were heavily dragged down, and Brent crude crossed the $100 threshold. [Source: https://www.brecorder.com/news/40431634/indian-shares-log-weekly-losses-as-crude-climbs-hdfc-bank-tumbles, 24 Jul 2026]
#3125
Consider the following statements about the global vegetable oil market as of July 2026: 1. Dalian’s most-active soyoil contract experienced a gain of 1.33%. 2. Soyoil prices on the Chicago Board of Trade increased by 0.99%. 3. Brazil has the potential to triple its palm oil planted area over the next decade. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 and 3 are correct. Statement 2 is incorrect because soyoil prices on the Chicago Board of Trade actually dropped by 0.99%, not increased. [Source: https://www.brecorder.com/news/40431640/palm-oil-hits-15-week-high-posts-third-weekly-gain, 24 Jul 2026]
#3126
Which instrument did the Reserve Bank of India likely use to offset the liquidity impact of its spot market dollar sales on July 24, 2026?
(a) Adjustment of the statutory liquidity ratio
(b) Direct purchase of government bonds
(c) Far tenor dollar-rupee buy/sell swaps
(d) Issuance of new treasury bills
Explanation: To manage the liquidity drain caused by selling dollars in the spot market, the central bank utilized far tenor dollar-rupee buy/sell swaps. This allows the bank to stabilize the currency without permanently tightening domestic rupee liquidity. [Source: https://www.brecorder.com/news/40431635/intervention-shields-indian-rupee-in-face-of-oil-hedging-strain, 24 Jul 2026]
#3127
What was the approximate value of net weekly forward dollar buying by merchants in the week ending July 17, 2026?
(a) 3.1 billion dollars
(b) 11.1 billion dollars
(c) 9.1 billion dollars
(d) 7.1 billion dollars
Explanation: Clearing house data indicated that merchant forward dollar buying rebounded to approximately 7.1 billion dollars in the week ending July 17, 2026. This increased hedging activity contributed to the downward pressure on the rupee. [Source: https://www.brecorder.com/news/40431635/intervention-shields-indian-rupee-in-face-of-oil-hedging-strain, 24 Jul 2026]
#3128
Which of the following is NOT a factor contributing to the pressure on the Indian rupee as of July 24, 2026?
(a) Excessive foreign direct investment inflows
(b) Weak domestic equities
(c) Increased corporate hedging
(d) High global oil prices
Explanation: Excessive foreign direct investment inflows typically strengthen a currency rather than weaken it. The other three factors—oil prices, weak equities, and corporate hedging—are explicitly cited as sources of downward pressure on the rupee. [Source: https://www.brecorder.com/news/40431635/intervention-shields-indian-rupee-in-face-of-oil-hedging-strain, 24 Jul 2026]
#3129
What is the total amount of the fine imposed by the European Commission on Google for breaching the Digital Markets Act in July 2026?
(a) 460 million euros
(b) 430 million euros
(c) 1.2 billion euros
(d) 890 million euros
Explanation: The European Commission issued two separate fines of 460 million euros and 430 million euros, totaling 890 million euros. This represents the first penalty imposed on Google under the Digital Markets Act. [Source: https://www.dawn.com/news/2018219/trump-says-eu-to-pay-very-big-price-for-google-fine, 25 Jul 2026]
#3130
Who is the Ambassador-designate of Pakistan to Libya as of July 2026?
(a) Maj-Gen (r) Mumtaz Hussain
(b) Lt-Gen (r) Asim Munir
(c) Maj-Gen (r) Faisal Shahkar
(d) None of these
Explanation: Maj-Gen (r) Mumtaz Hussain was identified as the Ambassador-designate to Libya during a seminar at the LCCI. The other names are not associated with this diplomatic appointment. [Source: https://www.brecorder.com/news/40431795/pak-workforce-in-libya-declines-by-78pc-envoy, 25 Jul 2026]
#3131
Who met with the Governor of Sindh on July 25, 2026, to discuss bilateral cooperation in the healthcare sector?
(a) Dr. Kemal Aydin
(b) Dr. Ahmet Davutoglu
(c) Dr. Mehmet Oz
(d) None of these
Explanation: Dr. Kemal Aydin, Chairman of the Ibn Sina Foundation, held a meeting with the Governor of Sindh to discuss expanding cooperation in medical research and education. The other names are prominent figures but were not involved in this specific diplomatic engagement. [Source: https://www.brecorder.com/news/40431850/governor-seeks-stronger-pak-turkiye-partnership-in-healthcare, 25 Jul 2026]
#3132
Which of the following statements regarding the gold market in Pakistan on July 25, 2026, is INCORRECT?
(a) The price of silver per tola increased by Rs12.
(b) The international gold price experienced a gain of $3 per ounce.
(c) The price of 10-gram gold increased by Rs257.
(d) The gold price per tola reached Rs427,736.
Explanation: The price of silver actually decreased by Rs12, not increased. Options A, B, and D are all factually correct statements regarding the market data for that date. [Source: https://www.brecorder.com/news/40431764/gold-price-per-tola-gains-rs300-in-pakistan, 25 Jul 2026]
#3133
Consider the following statements about the market conditions in Pakistan on July 25, 2026: 1. The gold price per tola reached Rs427,736. 2. The international gold market saw a price increase of $3 per ounce. 3. The silver price per tola increased by Rs12. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct as the price reached Rs427,736. Statement 2 is correct as the international rate rose by $3. Statement 3 is incorrect because the price of silver decreased, not increased. [Source: https://www.brecorder.com/news/40431764/gold-price-per-tola-gains-rs300-in-pakistan, 25 Jul 2026]
#3134
Who is the current Governor of Khyber Pakhtunkhwa as of July 2026?
(a) Ali Amin Gandapur
(b) Faisal Karim Kundi
(c) Mushtaq Ghani
(d) None of these
Explanation: Faisal Karim Kundi is the incumbent Governor of Khyber Pakhtunkhwa. Ali Amin Gandapur is the Chief Minister of the province, making him a common distractor in provincial governance questions. [Source: https://www.brecorder.com/news/40431814/governor-kp-vows-to-help-resolve-issues-facing-traders, 25 Jul 2026]
#3135
Which organization's delegation met with the Governor of Khyber Pakhtunkhwa to discuss trade-related issues in July 2026?
(a) Khyber Pakhtunkhwa Chamber of Commerce
(b) Peoples Business Forum
(c) Sarhad Chamber of Commerce and Industry
(d) All Pakistan Traders Association
Explanation: The delegation was led by Maulana Abdul Wali Gul Turabi representing the Peoples Business Forum. The other options represent established trade bodies often involved in provincial policy discussions. [Source: https://www.brecorder.com/news/40431814/governor-kp-vows-to-help-resolve-issues-facing-traders, 25 Jul 2026]
#3136
Consider the following statements about the conflict dynamics as of July 2026: 1. The US military operations were paused after the 13th night of strikes. 2. Iran has offered to broker talks between the Houthi rebels and Riyadh. 3. The conflict has remained strictly limited to US-Iran direct engagements. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: The Pentagon presented a plan for a 14th night of strikes, implying 13 nights had passed. Iran's Foreign Minister offered to broker talks between the Houthis and Riyadh, but the conflict has clearly expanded beyond direct US-Iran engagements to include regional shipping and Gulf allies. [Source: https://www.dawn.com/news/2018487/us-holds-fire-against-iran-as-reports-of-concerns-over-dwindling-munitions-emerge, 26 Jul 2026]
#3137
Consider the following statements regarding the Governor's remarks on July 25, 2026: 1. The Governor suggested that importing wheat from abroad could be considered if necessary. 2. The Governor emphasized the need for effective utilization of the province's mineral resources. 3. The Governor announced the immediate abolition of all provincial taxes on traders. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statements 1 and 2 are accurate reflections of the Governor's policy stance. Statement 3 is incorrect as the Governor pledged to take up tax relief issues with relevant authorities, not to unilaterally abolish taxes. [Source: https://www.brecorder.com/news/40431814/governor-kp-vows-to-help-resolve-issues-facing-traders, 25 Jul 2026]
#3138
Which regional group claimed to have downed a Saudi drone over the northwest of Yemen in July 2026?
(a) Houthi rebels
(b) Hezbollah
(c) Al-Qaeda
(d) Islamic State
Explanation: Houthi rebels reported downing a Saudi drone over Yemen and claimed responsibility for attacks on Saudi Aramco facilities in Jizan and Yanbu. The other groups listed are not involved in this specific operational theater. [Source: https://www.dawn.com/news/2018487/us-holds-fire-against-iran-as-reports-of-concerns-over-dwindling-munitions-emerge, 26 Jul 2026]
#3139
As of July 2026, which entity carries the largest burden of overdue liabilities in the gas sector?
(a) Sui Southern Gas Company
(b) Sui Northern Gas Pipelines Limited
(c) Pakistan State Oil
(d) None of these
Explanation: Sui Northern Gas Pipelines Limited (SNGPL) is explicitly identified as carrying the largest burden of overdue liabilities, totaling Rs536 billion as of July 23, 2026. Sui Southern Gas Company is a separate entity and is not cited as the primary holder of these specific overdue liabilities. [Source: https://www.dawn.com/news/2018389/gas-power-sector-dues-strain-energy-supply-chain, 26 Jul 2026]
#3140
All of the following statements regarding the market conditions on July 27, 2026, are true EXCEPT:
(a) The Federal Reserve is expected to definitely raise interest rates by 50 basis points.
(b) Bond markets received a boost from easing inflation fears.
(c) Brent crude prices experienced a decline.
(d) Yemen’s Houthis attacked Saudi oil installations.
Explanation: The market only implies a one-in-three chance of a rate hike, and analysts remain uncertain about the outcome, making the claim of a definite 50 basis point hike false. The other options accurately reflect the geopolitical and economic situation described. [Source: https://www.brecorder.com/news/40431958/shares-bonds-make-guarded-gains-as-oil-slips, 27 Jul 2026]