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Currency FRA Dec 15 q2A

RRichard8y ago
Why does it say offer 3 to 9 4.5%-3.5%...i understand the 3 to 9 part. I also understand 4.5% is the fixed rate...why the -3.5% part?
John MoffatJohn MoffatTutor8y ago#1
There is no such thing as a currency FRA !! FRA's only apply to interest rates. When two rates are given, the higher rate is the rate charged on borrowings, the lower rate is the rate paid on deposits.
RRichard8y ago#2
Glad i asked that then...got bmy calculator working, it is the order you push the buttons on the root x thingy
John MoffatJohn MoffatTutor8y ago#3
Great :-)
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