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.
#5361
Consider the following statements about the economic situation reported by the RBI in July 2026: 1. The $32 billion inflow is expected to improve India's balance of payments. 2. Increased government cash balances have contributed to the dollar inflows not fully reflecting on rupee liquidity. 3. The RBI has observed clear evidence that FCNR flows are primarily due to the rebooking of deposits. 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 2 are correct as per the RBI Governor's assessment. Statement 3 is incorrect because the Governor explicitly stated that there is no evidence that the bulk of FCNR flows are due to the rebooking of deposits. [Source: https://www.brecorder.com/news/40431961/indian-banks-have-raised-32-bln-under-dollar-inflow-schemes-rbi-chief-tells-hindu-businessline, 27 Jul 2026]
#5362
Which central bank official is scheduled to speak on July 28, 2026, regarding the economic outlook?
(a) Adrian Orr
(b) Philip Lowe
(c) Michele Bullock
(d) Glenn Stevens
Explanation: RBA Governor Michele Bullock is scheduled to speak on Tuesday, July 28, 2026. Markets are anticipating her comments for potential hawkish signals amidst regional geopolitical tensions. [Source: https://www.brecorder.com/news/40431969/australia-nz-dollars-climb-as-oil-slide-eases-rate-concerns, 27 Jul 2026]
#5363
Which of the following statements regarding the market conditions on July 27, 2026, is INCORRECT?
(a) The probability of an RBA rate hike in August increased to 60%.
(b) The New Zealand dollar added 0.2% against the US dollar.
(c) Australian three-year bond yields fell by 9 basis points.
(d) The Australian dollar rose 0.2% to $0.7001.
Explanation: The probability of an RBA rate hike in August actually decreased to 30% from 40% due to lower oil prices. The other statements accurately reflect the market data reported on that date. [Source: https://www.brecorder.com/news/40431969/australia-nz-dollars-climb-as-oil-slide-eases-rate-concerns, 27 Jul 2026]
#5364
Consider the following statements about the market environment on July 27, 2026: 1. The decline in oil prices was attributed to a pause in Gulf fighting. 2. Markets perceive a high certainty that the Federal Reserve will implement a rate hike. 3. The Bank of Japan is expected to hold its policy steady during its upcoming meeting.
(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 de-escalation lowered oil prices. Statement 3 is correct as the Bank of Japan is expected to hold steady. Statement 2 is incorrect because market participants view the Fed's decision as unusually uncertain, not highly certain. [Source: https://www.brecorder.com/news/40431958/shares-bonds-make-guarded-gains-as-oil-slips, 27 Jul 2026]
#5365
Which of the following companies reported beating first-quarter profit expectations as of July 27, 2026?
(a) Tata Consumer
(b) Bank of Baroda
(c) HDFC Bank
(d) Axis Bank
Explanation: Tata Consumer reported beating profit expectations due to steady consumer demand. In contrast, Bank of Baroda reported a profit drop, and private lenders like HDFC and Axis faced margin concerns. [Source: https://www.brecorder.com/news/40431956/indian-shares-set-to-open-higher-breaking-losing-run-as-oil-slides, 27 Jul 2026]
#5366
Which of the following statements regarding the market situation on July 27, 2026, is INCORRECT?
(a) The US dollar index slipped to 101.23.
(b) Brent crude prices increased due to heightened military activity.
(c) The British pound rose against the US dollar.
(d) The euro appreciated against the US dollar.
Explanation: Brent crude prices actually decreased (dropped) due to the pause in military strikes, not increased. Options A, B, and D are factually accurate based on the provided market data. [Source: https://www.brecorder.com/news/40431957/dollar-pulls-back-as-us-iran-attacks-pause-oil-drops, 27 Jul 2026]
#5367
Which individual is identified as the Chair of the Federal Reserve in the context of the July 2026 policy discussions?
(a) Jerome Powell
(b) Kevin Warsh
(c) Sally Auld
(d) None of these
Explanation: The report identifies Kevin Warsh as the Chair of the Federal Reserve whose position on potential rate hikes remains a subject of market uncertainty. Jerome Powell is a common distractor as a former/actual chair, but the text specifies Warsh. [Source: https://www.brecorder.com/news/40431958/shares-bonds-make-guarded-gains-as-oil-slips, 27 Jul 2026]
#5368
Which of the following airline companies saw their share prices increase on July 27, 2026?
(a) Lufthansa
(b) Air France
(c) British Airways
(d) Emirates
Explanation: Lufthansa, along with IAG and Ryanair, saw their share prices rise as lower oil prices improved their operational outlook. The other options were not mentioned as specific gainers in the report. [Source: https://www.brecorder.com/news/40431990/european-shares-climb-as-us-iran-peace-optimism-lifts-risk-sentiment, 27 Jul 2026]
#5369
On July 27, 2026, what primary factor contributed to the strengthening of the Australian and New Zealand dollars?
(a) Rising global interest rates
(b) Declining oil prices
(c) Increased gold production
(d) None of these
Explanation: The strengthening of the Australian and New Zealand dollars was attributed to a decline in oil prices, which eased inflationary concerns. This shift in commodity prices helped improve market sentiment and supported bond markets. [Source: https://www.brecorder.com/news/40431969/australia-nz-dollars-climb-as-oil-slide-eases-rate-concerns, 27 Jul 2026]
#5370
What was the value of the GIFT Nifty futures as of 7:59 a.m. IST on July 27, 2026?
(a) 23,767.45
(b) 24,500.75
(c) 24,150.25
(d) 23,974.50
Explanation: The GIFT Nifty futures were recorded at 23,974.50, which indicated a positive opening for the benchmark Nifty 50 index above the previous Friday's close of 23,767.45. [Source: https://www.brecorder.com/news/40431956/indian-shares-set-to-open-higher-breaking-losing-run-as-oil-slides, 27 Jul 2026]
#5371
Which of the following statements regarding the RBI's policy stance in July 2026 is INCORRECT?
(a) The RBI has officially declared the Indian rupee to be significantly undervalued.
(b) The current policy repo rate is considered appropriate for growth-inflation dynamics.
(c) The RBI intervenes in the currency market to curb excessive volatility.
(d) Generalized inflation pressures are currently viewed as modest.
Explanation: The RBI Governor stated that it would be reasonable to think the rupee is not undervalued, making the claim that the RBI declared it undervalued incorrect. [Source: https://www.brecorder.com/news/40431961/indian-banks-have-raised-32-bln-under-dollar-inflow-schemes-rbi-chief-tells-hindu-businessline, 27 Jul 2026]
#5372
Consider the following statements about the market environment on July 27, 2026: 1. Investors are preparing for quarterly earnings reports from major U.S. technology companies. 2. The decline in oil prices negatively impacted the travel and leisure sector. 3. The STOXX 600 index rose as a result of reduced geopolitical tensions between the U.S. and Iran. 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 investors are scrutinizing Big Tech earnings. Statement 3 is correct as the market rally was driven by de-escalation. Statement 2 is incorrect because lower oil prices actually boosted the travel and leisure sector, rather than negatively impacting it. [Source: https://www.brecorder.com/news/40431990/european-shares-climb-as-us-iran-peace-optimism-lifts-risk-sentiment, 27 Jul 2026]
#5373
Consider the following statements regarding the Indian market outlook as of July 27, 2026: 1. The U.S. Federal Reserve is widely expected to increase interest rates by 25 basis points this week. 2. The probability of a 25-basis-point rate hike by the Fed has risen to 36.3%. 3. Lower oil prices are expected to ease inflation concerns in India. 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 Fed is widely expected to leave rates unchanged, making statement 1 incorrect. Statements 2 and 3 are factually accurate based on the market analysis provided. [Source: https://www.brecorder.com/news/40431956/indian-shares-set-to-open-higher-breaking-losing-run-as-oil-slides, 27 Jul 2026]
#5374
According to futures markets on July 27, 2026, what is the approximate probability that the Federal Reserve will keep interest rates unchanged?
(a) 62 percent
(b) 52 percent
(c) 45 percent
(d) 75 percent
Explanation: Futures markets indicated a 62 percent probability that the Federal Reserve would maintain current interest rates. This reflects market expectations regarding the policy stance of the new chairman. [Source: https://www.brecorder.com/news/40432022/dow-sampp-500-rise-as-oil-prices-tumble, 27 Jul 2026]
#5375
Consider the following statements about the market conditions on July 27, 2026: 1. Crude oil prices experienced a decline of more than six percent. 2. The Dow Jones Industrial Average recorded a gain of 0.7 percent. 3. The Federal Reserve decision is expected to be the first under the new chairman. 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 factually correct based on the report. Statement 3 is incorrect because the report specifies that the upcoming decision is the second, not the first, under the new chairman. [Source: https://www.brecorder.com/news/40432022/dow-sampp-500-rise-as-oil-prices-tumble, 27 Jul 2026]
#5376
What was the price of benchmark copper on the London Metal Exchange on July 27, 2026?
(a) $12,688.5 per metric ton
(b) $13,688.5 per metric ton
(c) $14,688.5 per metric ton
(d) None of these
Explanation: On July 27, 2026, benchmark copper on the London Metal Exchange was recorded at $13,688.5 per metric ton. This increase followed a period of geopolitical tension that had previously pressured global markets. [Source: https://www.brecorder.com/news/40432002/copper-prices-rise-as-us-iran-lull-calms-oil-and-economic-growth-fears, 27 Jul 2026]
#5377
Consider the following statements about the global copper market as of July 27, 2026: 1. The U.S. Commerce Department was scheduled to complete a review of the copper market by June 30, 2026. 2. Copper prices on the LME were up 0.32% at 0700 GMT. 3. The Pentagon suspended airstrikes on Iran on the Friday preceding July 27, 2026. Which of the statements given above 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 provided information. The U.S. review deadline, the specific percentage increase of copper on the LME, and the timing of the Pentagon's suspension of airstrikes are all verified details. [Source: https://www.brecorder.com/news/40432002/copper-prices-rise-as-us-iran-lull-calms-oil-and-economic-growth-fears, 27 Jul 2026]
#5378
The upcoming Politburo meeting in July 2026 is primarily expected to focus on which of the following?
(a) Dissolution of existing fiscal quotas
(b) Immediate devaluation of the national currency
(c) Formalizing a new military alliance with regional partners
(d) Setting the economic policy agenda for the second half of the year
Explanation: The Politburo, as the top decision-making body, meets to determine the economic trajectory and policy priorities for the remainder of the year. Analysts anticipate a focus on implementing existing measures rather than major new stimulus. [Source: https://www.brecorder.com/news/40431978/chinas-yuan-rises-to-near-one-week-high-market-focuses-on-politburo-meeting, 27 Jul 2026]
#5379
What was the total value of Treasury bills awarded by the Philippine Bureau of the Treasury on July 27, 2026?
(a) $500 million
(b) $950 million
(c) $1.2 billion
(d) $810.1 million
Explanation: The Philippine Bureau of the Treasury awarded 50 billion pesos, which is equivalent to $810.1 million, during the auction held on July 27, 2026. This figure represents the total successful bid amount for the three tenors offered. [Source: https://www.brecorder.com/news/40431975/philippines-awards-810mn-t-bill-offer, 27 Jul 2026]
#5380
What was the total volume of tenders received by the Philippine Bureau of the Treasury during the July 27, 2026 auction?
(a) 50 billion pesos
(b) 134.5 billion pesos
(c) 100 billion pesos
(d) 200 billion pesos
Explanation: The auction attracted significant market interest, resulting in total tenders of 134.5 billion pesos against an award of 50 billion pesos. This indicates a high demand for government debt instruments. [Source: https://www.brecorder.com/news/40431975/philippines-awards-810mn-t-bill-offer, 27 Jul 2026]