WARDEGUL CO (SEP/DEC 17)

Sir wanted to confirm my understanding of the FRA rates mentioned in this question. Since we have just been provided with single rates(not in pairs, which is usually what we have in case of FRAs- borrowing and deposit rates both are given), we always assume that if such is the case the rates provided will be BASE RATE or borrowing rate? And not deposit rate, even if the company’s intention is invest. And that deposit rate we have to find by adjusting the FRA rates listed (say reducing by certain basis points, whatever is given).