📰 Today’s Highlights – 14 July 2025
Global tensions impact India’s markets as U.S. President Trump announces a 30% tariff on European Union and Mexico imports (effective August 1), and hints at further tariffs. This has led to risk-off sentiment in Asian markets and the rupee is expected to open weaker in the ₹85.90–₹85.94 range. However, strong foreign investment continues—FPIs bought around $98 million in equities and $39 million in bonds on 10 July. Additionally, China issues a warning on the Dalai Lama succession, calling it a “thorn” in Sino‑Indian relations—just days ahead of External Affairs Minister Jaishankar’s visit to China for SCO meetings. Meanwhile, India’s foreign‑exchange reserves remain robust, standing above $700 billion.
Daily Current Affairs – MCQs (14 July 2025)
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**What U.S. tariff was announced by President Trump?**A) 30% on EU and Mexico importsB) 25% on China goodsC) 15% on Canada onlyD) 10% on all Asian exportsAnswer: A) 30% on EU and Mexico importsExplanation: Trump announced a 30% tariff on European Union and Mexico imports starting August 1, as part of broader trade tension moves.
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**What’s the expected opening range for the rupee today?**A) ₹85.50–85.60B) ₹85.70–85.74C) ₹85.90–85.94D) ₹86.10–86.20Answer: C) ₹85.90–85.94Explanation: Markets expect a weak open between ₹85.90 and ₹85.94 per USD, following global trade angst.
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**What is considered a key support level for the rupee?**A) ₹85.50B) ₹86.00C) ₹86.10D) ₹86.50Answer: C) ₹86.10Explanation: Traders say ₹86–₹86.10 is a clear support level; the rupee has managed to hold above that in the past.
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**How much did global investors buy into Indian equities on July 10?**A) $50 millionB) $98.1 millionC) $150 millionD) $200 millionAnswer: B) $98.1 millionExplanation: FPIs bought a net $98.1 million in equities on July 10.
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**How much did they invest in bonds the same day?**A) $20 millionB) $39.3 millionC) $60 millionD) $100 millionAnswer: B) $39.3 millionExplanation: On July 10, FPIs purchased around $39.3 million worth of Indian bonds.
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**What reason is given for Asian currencies’ slump?**A) Rising oil pricesB) U.S. tariff threatsC) Weak domestic dataD) Geopolitical violenceAnswer: B) U.S. tariff threatsExplanation: Risk-off sentiment spread due to Trump’s tariff ramp-up affecting Asian currencies.
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**What issue did China call a “thorn” in Sino-India ties?**A) Security partnership with U.S.B) Dalai Lama successionC) Border managementD) Trade subsidiesAnswer: B) Dalai Lama successionExplanation: China described the Dalai Lama succession as a "thorn" ahead of Jaishankar’s visit.
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**Who currently asserts that China cannot decide the Dalai Lama’s reincarnation?**A) Only Tibetan activistsB) Indian Prime MinisterC) Dalai Lama and Indian officialsD) Chinese diasporaAnswer: C) Dalai Lama and Indian officialsExplanation: Both the Dalai Lama and figures like Kiren Rijiju said only he or his office can decide his reincarnation.
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**What high-level visit is India preparing for?**A) SCO foreign ministers’ meeting in ChinaB) G20 summit in IndonesiaC) ASEAN foreign minister retreatD) UN General AssemblyAnswer: A) SCO meeting in ChinaExplanation: EAM Jaishankar is traveling to China (and Singapore) for SCO talks—the first visit since 2020 standoff.
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**How large are India’s FX reserves as of late June?**A) $650 billionB) $691.5 billionC) $702.8 billionD) $750 billionAnswer: C) $702.8 billionExplanation: India’s foreign-exchange reserves hit $702.8 billion as of June 27, offering strong market buffer.
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