May 2023

(a) most risky (b) most secure (c) most unstable (d) least liquid S9. Ans.(b) Sol. Sovereign securities are issued by national governments and are considered to be among the safest investments in the world, as they are backed by the full faith and credit of the issuing government.

(a) 50% (b) 60% (c) 70% (d) 80% S8. Ans.(d) Sol. According to the latest half-yearly report on foreign exchange management, $411.65 billion out of the RBI’s total foreign currency assets of $509.69 billion was invested in securities, representing a share of 80.76%.

(a) 2 months (b) 4 months (c) 6 months (d) 7.1 months Ans.(d) Sol. India’s foreign-exchange reserves provide a cushion to manage external financial volatility and were at USD584.2 billion (7.1 months of current external payments) as of 21 April 2023.

(a) 55.4% of GDP (b) 62.8% of GDP (c) 75.3% of GDP (d) 82.8% of GDP  S3. Ans.(d) Sol. Fitch estimates India’s general government debt to be at 82.8% in FY23.

(a) Hyderabad (b) Mumbai (c) Delhi (d) Chennai Ans.(a) Sol. Telangana Chief Minister K. Chandrasekhar Rao laid the foundation for the Hare Krishna Heritage Tower in Hyderabad. The 400 feet tall structure will be constructed on six acres of land in Narsingi at a cost of Rs 200 crore. The tower will house the temples

(a) Strong service exports (b) encouraging remittance (c) reducing the goods deficit due to fall in oil prices (d) all of the above Ans.(d) Sol. The current account deficit in India is driven by a combination of robust services exports, buoyant remittances, and moderating goods deficit from declining oil prices.

(a) a strong domestic currency (b) low interest rates (c) high inflation (d) reduction in imports Ans.(c) Sol. A higher current account deficit can lead to a higher demand for foreign currency, which can cause the value of the domestic currency to decrease. This can, in turn, lead to higher inflation as the cost of

(a) Increasing economic integration among ASEAN member countries (b) Strengthening the global position of ASEAN (c) To become the center of global development (d) Discussion on measures to attract foreign investment Ans.(c) Sol. Becoming the center of global growth. The guiding theme chosen for the summit is “ASEAN Affairs: Epicenter of Growth,” which seeks to

(a) Thailand (b) China (c) Indonesia (d) Vietnam Ans.(b) Sol. ASEAN currently has 10 member countries: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Daily Quiz on Current Affairs 10 May 2023 is very important for Competitive Exams like SSC, Railway, RRB, Banking, IBPS, PSC, UPSC, etc. Our Gkseries team have composed these Current Affairs Quizzes from Newspapers like The Hindu and other competitive magazines.