as far as second doubt is concerned
Yes the question states both the fixing date and reference rate at the same time...
Yup the same is confusing
But ya one thing is pretty much clear that a 6x9 fra means that we will recieve 100cr after 6 months that will be in surplus for 3 months
And we also know rthat reference rate means rate prevailing 2 days prior to the date of reciept of 100cr i.e. the rate prevailing after 6 mths
So we may conclude dat question has given rates of MIBOR prevailing after 6 mths
since the funds will be in surplus for 3 mths
we will use 3 mth forward rate
regards
rahul
CAclubindia
