3M×6M is a six-month forward interest rate agreement after three months. . .

How far does this mean?

The latter is an understandable shelf life.

Okay, let me explain it again.

For example, suppose that the interest rate of 3M×6M varieties is 5%.

It means that after three months, the deposit interest rate for six months (half a year) is 5%. Understand?

In three months, he will be a striker. Although no one knows what the semi-annual interest rate will be in three months, we have made such a long-term agreement in order to avoid the risk of interest rate rising or falling.

If I don't understand, I can't help it! Know forward. What forward exchange rate, forward interest rate and the ancestor of forward futures. . .