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Have a doubt in BPP Interest rate risk (chapter 20)
4.2.2. Example Forward rate agreement
My doubt is why are we locking in to a rate of 6% (relevant FRA rate) instead of 6.25% (which is the current 6 month FRA rate)?
I do not have the BPP Study Text, only the Revision Kit, and so I cannot help you.
(If you are watching our free lectures then you do not really need the Study Text. The essential book is the Revision Kit because it is full of past exam and other exam standard questions for practice, which is vital to passing the exam.)