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Current Account |
Also found in: Legal, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Current account Net flow of goods, services, and unilateral transactions (gifts) between countries. Current Account An account at a bank in which the 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 current account for a longer period than a savings account, a current account pays a slightly lower interest rate. Generally speaking, one may write a check on a current account, and banks expect the customer to do so. The term "current account" is more common in the United Kingdom. In the United States, the common term is "checking account." How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| By artificially keeping the Chinese currency cheap through exchange market manipulation, China's external current account surplus is now set to become the largest in the world at a time when it is enjoying very strong long-term capital account inflows. Japan's current account surplus last year after all came to $172 billion. All these factors have improved Latin America's health to the point that the region posted a current account surplus in 2003, the first time in 50 years. |
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