October 2026 Edition
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October 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#1381
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]
#1382
Which French peninsula experienced mass evacuations due to forest fires on July 24, 2026?
(a) Cap Ferret
(b) Brittany
(c) Normandy
(d) None of these
Explanation: The Cap Ferret peninsula was the primary site of mass evacuations in France, where thousands of residents and holidaymakers were forced to flee by boat and road. Brittany and Normandy are other French regions but were not the focus of this specific wildfire event. [Source: https://www.dawn.com/news/2018225/over-100000-flee-forest-fires-in-france-spain, 24 Jul 2026]
#1383
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]
#1384
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]
#1385
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]
#1386
Consider the following statements about the 2026 wildfire crisis: 1. More than 100,000 people were forced to flee their homes across France and Spain. 2. French regional fire chief Marc Vermeulen reported that flames were consuming up to 1,000 hectares of forest per hour. 3. The fires in the Madrid region were described as the worst in the region's history by local officials. 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 correct. The total number of displaced persons exceeded 100,000, the rate of forest destruction was confirmed by the regional fire chief, and the severity of the Madrid fires was officially noted as unprecedented. [Source: https://www.dawn.com/news/2018225/over-100000-flee-forest-fires-in-france-spain, 24 Jul 2026]
#1387
Which organization provided a study linking the 2026 wildfires to human-fuelled climate change?
(a) World Meteorological Organization
(b) International Panel on Climate Change
(c) European Environment Agency
(d) World Weather Attribution
Explanation: The World Weather Attribution group published a study in July 2026 identifying human-fuelled climate change as a driver for the drought and wildfire conditions. While other organizations monitor climate, this specific study was attributed to the WWA. [Source: https://www.dawn.com/news/2018225/over-100000-flee-forest-fires-in-france-spain, 24 Jul 2026]
#1388
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]
#1389
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]
#1390
The town of Navas del Rey, threatened by wildfires in July 2026, is located approximately how many kilometers from Madrid?
(a) 50 kilometers
(b) 80 kilometers
(c) 120 kilometers
(d) None of these
Explanation: Navas del Rey is situated about 50 kilometers from the Spanish capital. The 80-kilometer figure refers to the location of Cebreros, another site mentioned in the context of the Madrid region fires. [Source: https://www.dawn.com/news/2018225/over-100000-flee-forest-fires-in-france-spain, 24 Jul 2026]
#1391
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]
#1392
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]
#1393
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]
#1394
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]
#1395
According to the Exchange Companies Association of Pakistan, what was the primary driver for the decline in dollar sales to banks during the first 10 months of 2026?
(a) Increased investment in domestic manufacturing
(b) Diversion of funds into cryptocurrency trading
(c) Sharp rise in official export-led remittances
(d) Government-imposed limits on foreign currency accounts
Explanation: The chairman of the Exchange Companies Association of Pakistan noted that billions of dollars were diverted from the banking system into illegal cryptocurrency investments. This outflow contributed to the reduction in dollar sales to banks. [Source: https://www.dawn.com/news/2018391/war-dries-up-unofficial-dollar-inflows, 26 Jul 2026]
#1396
The Virtual Assets Act 2026 was passed to regulate which of the following sectors in Pakistan?
(a) Cryptocurrency and digital asset providers
(b) Traditional textile export manufacturing
(c) Informal hundi and hawala networks
(d) Cross-border physical commodity trade
Explanation: The Virtual Assets Act 2026 provides a regulatory framework for licensed virtual asset providers, allowing banks to facilitate services for the sector. This is distinct from the informal hundi/hawala systems which remain illegal. [Source: https://www.dawn.com/news/2018391/war-dries-up-unofficial-dollar-inflows, 26 Jul 2026]
#1397
Which of the following statements regarding the Virtual Assets Act 2026 is INCORRECT?
(a) It allows regulated banks to open accounts for entities registered under the Pakistan Virtual Assets Regulatory Authority.
(b) It establishes a framework for licensed virtual asset providers to operate within the formal financial system.
(c) It was passed in the same year that Pakistan lifted its eight-year ban on crypto-related banking activity.
(d) It permits banks to use customer deposits to trade or invest in digital assets for profit.
Explanation: The Act explicitly prohibits banks from using their own capital or customer deposits to trade, hold, or invest in digital assets. Therefore, is the incorrect statement. [Source: https://www.dawn.com/news/2018391/war-dries-up-unofficial-dollar-inflows, 26 Jul 2026]
#1398
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]
#1399
In which month of 2026 did the Reserve Bank of India announce the dollar-inflow schemes that raised $32 billion?
(a) April 2026
(b) June 2026
(c) May 2026
(d) July 2026
Explanation: The dollar-inflow schemes were officially announced by the central bank in June 2026, leading to the reported accumulation of funds by late July 2026. [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]
#1400
Which of the following statements regarding the July 26, 2026, Caspian Sea incident is INCORRECT?
(a) Iran admitted to providing military cargo to Russia via the Caspian Sea.
(b) The attack resulted in the death of one sailor.
(c) Ukraine claimed the strike targeted vessels under international sanctions.
(d) The Iranian foreign ministry summoned the Ukrainian charge d'affaires.
Explanation: Iran explicitly asserted that it has never intervened in the conflict between Russia and Ukraine, making the claim that it admitted to transporting military cargo factually incorrect. The other three statements accurately reflect the reported details of the event. [Source: https://www.dawn.com/news/2018502/iran-accuses-ukraine-of-deadly-attack-on-ship-in-caspian-sea, 26 Jul 2026]