August 2026 Edition
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August 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#13961
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]
#13962
Which of the following is NOT a stated concern regarding the intensification of regional tensions mentioned in the 2026 roundtable?
(a) Maritime security
(b) Global energy markets
(c) Internal border demarcation
(d) Regional peace and stability
Explanation: The roundtable discussion focused on strategic stability, maritime security, and energy markets. Internal border demarcation was not listed as a primary concern in the context of this specific diplomatic event. [Source: https://www.brecorder.com/news/40431693/regional-challenges-irans-envoy-for-greater-bilateral-cooperation, 24 Jul 2026]
#13963
What was the recorded inflation rate in Pakistan for the month of February 2026?
(a) 5.80 percent
(b) 6.98 percent
(c) 7.15 percent
(d) 8.20 percent
Explanation: Inflation rose to 6.98 percent year-on-year in February 2026, up from 5.8 percent in January. This represents the highest level recorded since October 2024. [Source: https://www.dawn.com/news/1979645/stocks-nosedive-63pc-in-jittery-week-on-geopolitical-concerns, 08 Mar 2026]
#13964
Which of the following statements regarding the market performance in March 2026 is INCORRECT?
(a) Foreign corporates were net sellers of equities during the week.
(b) The KSE-100 index experienced a single-session decline of over 16,000 points on Monday.
(c) Cement despatches showed a year-on-year increase in February 2026.
(d) The rupee depreciated significantly against the dollar during the week.
Explanation: The rupee remained largely stable, appreciating marginally by 0.02 percent week-on-week. The other statements accurately reflect the market data provided for the period. [Source: https://www.dawn.com/news/1979645/stocks-nosedive-63pc-in-jittery-week-on-geopolitical-concerns, 08 Mar 2026]
#13965
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]
#13966
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]
#13967
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]
#13968
What was the closing value of the KSE-100 index at the end of the trading week ending on March 8, 2026?
(a) 145,210 points
(b) 157,496 points
(c) 162,305 points
(d) None of these
Explanation: The KSE-100 index closed at 157,496 points after a weekly decline of 6.3 percent. This decline was primarily attributed to investor panic regarding regional geopolitical instability. [Source: https://www.dawn.com/news/1979645/stocks-nosedive-63pc-in-jittery-week-on-geopolitical-concerns, 08 Mar 2026]
#13969
Consider the following statements about the economic indicators in February 2026: 1. Pakistan's trade deficit widened to approximately $3 billion. 2. Urea offtake recorded a significant increase compared to the previous year. 3. Liquid foreign exchange reserves held by the State Bank of Pakistan stood at $16.3 billion. 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 2 is incorrect because urea offtake actually fell by 28 percent year-on-year, reaching the lowest monthly level recorded. Statements 1 and 3 are factually accurate based on the reported economic data. [Source: https://www.dawn.com/news/1979645/stocks-nosedive-63pc-in-jittery-week-on-geopolitical-concerns, 08 Mar 2026]
#13970
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]
#13971
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]
#13972
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]
#13973
Which regulatory body is responsible for setting daily petroleum prices under the new mechanism introduced on July 25, 2026?
(a) State Bank of Pakistan
(b) Competition Commission of Pakistan
(c) Ministry of Finance
(d) Oil and Gas Regulatory Authority
Explanation: The Oil and Gas Regulatory Authority (OGRA) is the designated body tasked with setting daily fuel prices using Platts benchmark rates. This shift is intended to reduce political interference and ensure transparency in the pricing structure. [Source: https://www.dawn.com/news/2018248/daily-fuel-pricing, 25 Jul 2026]
#13974
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]
#13975
Which organization hosted the seminar titled 'Enhancing Pak-Libya Trade and Economic Cooperation' in 2026?
(a) Federation of Pakistan Chambers of Commerce and Industry
(b) Lahore Chamber of Commerce and Industry
(c) Karachi Chamber of Commerce and Industry
(d) Islamabad Chamber of Commerce and Industry
Explanation: The seminar was hosted by the Lahore Chamber of Commerce and Industry (LCCI) to discuss bilateral economic ties. The other chambers are distinct entities not mentioned as the hosts of this specific event. [Source: https://www.brecorder.com/news/40431795/pak-workforce-in-libya-declines-by-78pc-envoy, 25 Jul 2026]
#13976
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]
#13977
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]
#13978
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]
#13979
The Pakistani workforce in Libya has experienced a decline of what percentage according to the 2026 report?
(a) 78 percent
(b) 65 percent
(c) 82 percent
(d) 90 percent
Explanation: The Ambassador-designate explicitly stated that the Pakistani workforce in Libya has declined by 78 percent. This figure serves as the primary metric for the need to revitalize labor and trade relations. [Source: https://www.brecorder.com/news/40431795/pak-workforce-in-libya-declines-by-78pc-envoy, 25 Jul 2026]
#13980
Consider the following statements about Pak-Libya relations as of 2026: 1. Pakistan maintains a strong presence in Libya through defense cooperation. 2. The Ambassador-designate advocates for chamber-to-chamber engagement to boost trade. 3. The Pakistani government has officially announced a total ban on labor migration to Libya. 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 Ambassador's remarks regarding defense ties and trade facilitation. Statement 3 is incorrect as the report focuses on reversing the decline in the workforce, not imposing a ban. [Source: https://www.brecorder.com/news/40431795/pak-workforce-in-libya-declines-by-78pc-envoy, 25 Jul 2026]