current account

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Current account

Net flow of goods, services, and unilateral transactions (gifts) between countries.

Checking Account

An account at a bank in which a customer deposits money for immediate use. For example, one may utilize a checking account for one's monthly expenses, such as a mortgage payment or groceries. Because most customers keep money in a checking account for a shorter period than in a savings account, a current account pays a slightly lower interest rate. Typically, one can write a check or use a debt card on a checking account, and banks expect customers to do so. The term "checking account" is more common in the United States. In the United Kingdom, the common term is "current account."

current account

  1. an individual's or company's account kept at a COMMERCIAL BANK or BUILDING SOCIETY into which the customer can deposit cash or cheques and from which he or she can draw cheques or make withdrawals on a day-to-day basis.
  2. a financial record of a country's trade in GOODS and SERVICES with the rest of the world (see BALANCE OF PAYMENTS).
  3. an account which keeps a record of individual partner's share of profits or losses, and amounts withdrawn, in a PARTNERSHIP.

current account

  1. 1a statement of a country's trade in goods (visibles) and services (invisibles) with the rest of the world over a particular period of time. See BALANCE OF PAYMENTS.
  2. an individual's or company's account at a COMMERCIAL BANK or BUILDING SOCIETY into which the customer can deposit cash or cheques and make withdrawals on demand on a day-to-day basis. Current accounts (or sight deposits as they are often called) offer customers immediate liquidity with which to finance their transactions. Most banks and building societies pay INTEREST on current account balances that are in credit. See BANK DEPOSIT, DEPOSIT ACCOUNT.
References in periodicals archive ?
But in coming years the rise in spending by Chinese consumers and by the Chinese government will substitute for the reduced value of net exports that occurs as China's current account surplus declines.
In its forecast for 2010, the central bank said that it would post a current account surplus of USD17bn next year.
I would say return of current account surplus perhaps signals less of a need for foreign currency borrowing," Lonski says.
Ministry officials said the latest reading does not mean the current account surplus will continue to decline indefinitely, but added there are no factors to immediately push up the surplus given developments in exchange markets and cyclical elements.
The long-term capital inflow and current account surplus in 1991 were offset by large private short-term capital outflows.
In 2013, the country is likely to have posted a current account surplus of 15.
TOKYO, Feb 8 (KUNA) -- Japan's current account surplus plunged 43.
Japan's current account surplus expanded for the first time in three years in 2010 with exports recovering from a dip caused by the global financial turmoil in 2008, government data showed Tuesday.
Summary: Japan's Current Account surplus narrowed for the third consecutive month, printing at 1171.
According to a recent study by Merrill Lynch, at oil prices above $130 a barrel, the six Gulf countries together were estimated to accumulate their current account surplus by $1 billion a day adding up to $360 billion for 2008.
China's current account surplus has exploded in recent years from a modest $46 billion in 2003 to $250 billion last year.
Raw material demand has pumped even more money into the region; in 2003, Latin America posted a current account surplus of 0.