🔥 23 July 2025 – Top Current Affairs MCQs | Daily GK for Competitive Exams

📰 Today’s Highlights – 23 July 2025

India takes a major stride in global trade as Prime Minister Modi signs a free trade agreement with the UK, including tariff cuts on key items. However, hopes for an interim U.S.–India trade deal before the August 1 deadline dim amidst stalled talks. The rupee remains under pressure, hovering near one-month lows due to a strong U.S. dollar, weak inflows, and import demand, though a mild boost from yen-led dollar weakness temporarily helped. Meanwhile, anticipation builds ahead of Dr Reddy’s Q1 results and equity markets brace for a potential reversal as technical time windows emerge.

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Daily Current Affairs – MCQs (23 July 2025)

1. **Which trade agreement did PM Modi sign today?**
   A) India–India ASEAN FTA
   B) India–UK free trade deal
   C) India–EU trade pact
   D) India–Canada PTA
   Answer: B) India–UK free trade deal
   Explanation: India and Britain finalized a free trade agreement during Modi’s UK visit, including tariff reductions on whisky, cars, and food, while giving duty-free access to Indian textiles and EVs.

2. **Why did India–U.S. interim trade talks falter?**
   A) Disagreement on automotive tariffs
   B) Deadlock on agriculture and dairy duties
   C) Currency intervention disputes
   D) Labour standards issue
   Answer: B) Deadlock on agriculture and dairy duties
   Explanation: Talks stalled as India resisted tariff cuts on key farm and dairy products before the August deadline.

3. **What happened to the rupee today?**
   A) Rose sharply
   B) Remained stable
   C) Weakened to one-month lows
   D) Closed flat
   Answer: C) Weakened to one-month lows
   Explanation: Continued dollar strength, weak inflows, and corporate import demand pushed the rupee down to around ₹86.35/$.

4. **What temporarily supported the rupee at opening?**
   A) Oil price dip
   B) ECB decision
   C) Yen-led dollar pullback
   D) RBI intervention
   Answer: C) Yen-led dollar pullback
   Explanation: A rally in the yen led to dollar weakness, giving modest support and an initial rupee opening around ₹86.20–86.22.

5. **What is Dr Reddy’s expected performance?**
   A) Loss in Q1
   B) Flat revenue
   C) Profit growth up to 15%
   D) Decline in US sales
   Answer: C) Profit growth up to 15%
   Explanation: Q1 PAT forecast between ₹1,399–1,659 crore representing -2% to +15% YoY growt.

6. **Which key technical market phase is being watched?**
   A) June spike
   B) July 22–25 timeframe
   C) After August budget
   D) Year-end rally
   Answer: B) July 22–25 timeframe
   Explanation: Analysts expect potential reversal moves in the July 22–25 window, based on technical patterns.

7. **How much have FIIs exited in July?**
   A) ₹5,000 crore
   B) ₹10,775 crore
   C) ₹20,000 crore
   D) No exit
   Answer: B) ₹10,775 crore
   Explanation: Foreign institutional investors have sold equities worth ₹10,775 crore in July.

8. **What sectors are still attracting FII investments?**
   A) Pharma & auto
   B) Telecom & financials
   C) Energy & utilities
   D) Real estate & infrastructure
   Answer: B) Telecom & financials
   Explanation: Despite broad outflows (~$9.2bn YTD), FIIs are selectively buying in telecom and financials.

9. **Where did USD/INR forward trade in non-deliverable forwards?**
   A) 85.00
   B) 86.00
   C) 86.32
   D) 87.00
   Answer: C) 86.32
   Explanation: One-month NDF forward rate stood at around ₹86.32/$.

10. **What is the outlook for Indian equities today?**
    A) Bullish breakout
    B) Flat to bearish start
    C) Sharp sell-off
    D) Volatile spike
    Answer: B) Flat to bearish start
    Explanation: Market is expected to open flat to slightly bearish, pressured by sluggish global cues and local weakness.

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✅ Summary:

Today's quiz covers India–UK free trade progress, stalled U.S. trade deal talks, rupee under pressure amid global dynamics, Dr Reddy’s upcoming results, and key technical points in market swings.