current account


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current account

Economics that part of the balance of payments composed of the balance of trade and the invisible balance

Current Account

 

a type of deposit operation in banks and savings banks. Deposits in current accounts are not time deposits; that is, the account holder can make deposits and withdrawals at any time. In the capitalist countries, current accounts for the most part hold the temporarily free capital and cash reserves of the capitalists. In the USSR, current accounts in banks may be opened by noneconomic institutions and enterprises, kolkhozes, and public organizations; current accounts in savings banks may also be opened by individuals.

References in periodicals archive ?
The new current account provider will be held responsible for managing the switching process in full, meaning there is a single point of contact if any problems crop up.
And because 80% of current accounts don't pay any of that income back to their current account customers, the banks are able to generate a combined total of PS3.
Gain analysis of current account markets based on strategies adopted to improve products and product portfolios.
Recently, by incorporating the standard assumptions of intertemporal macroeconomic models in vector autoregression framework, Lee and Chinn (2006) showed that the relationship between exchange rate and current account depends largely on the nature of shocks.
Trade balance will be well contained, and it will reflect on current account deficit," he added.
But this is not the case, according to a recent report from the trading watchdog, which found three quarters of consumers have never switched their current account provider.
The poll also revealed there is still some way to go however, with 49 per cent people saying they wouldn't be looking to switch their current account any time soon.
For the year, the current account deficit widened to $475 billion, a 1.
India's current account deficit has come down mainly because of a decline in gold imports due to a lower demand in the domestic market owing to high prices.
David Black, at Defaqto, a financial research company, says: "The current account is really a key relationship with a client.
Nearly six out of ten people have had the same current account for more than a decade while 18 per cent of people have been with their bank for more than 30 years.
So far, I have discussed the fundamental correspondence between current-account deficits or surpluses and net financial inflows or outflows as if the financial flows always responded to the developments in the current account, but this need not be the case.