CURRENT VS. PRESENT

There are situations where current and present can be exchanged with each other. In other cases this would result in a different meaning or would just sound odd.

1. As adjectives they are interchangeable if you mean "now". Like:
the current/present situation.

And

The word ‘present’ is normally used in the sense of ‘at the moment’. On the other hand, the word ‘current’ is used in the sense of ‘recent’. This is the main and the subtle difference between the two words.

Take a look at the two sentences given below

e.g. There are no books available at present.

e.g. In the current trend the styles have changed.

In the first sentence, the word ‘present’ is used in the sense of ‘at the moment’ and hence, the meaning of the sentence would be ‘there are no books available at the moment’. In the second sentence, the word ‘current’ is used in the sense of ‘recent’ and hence, the meaning of the sentence would be ‘in the recent trend the styles have changed’./

2. You cannot substitute one with the other in the following examples:
The adjective/adverb "present" can mean:
attendant, not absent (e.g.: I am present = I am here)
You would not say "I am current".
"current" can mean:
popular, established (e.g.: The current fashion)
ongoing (e.g.: current transactions) in these cases you would not use present.

These are just two examples and of course don't cover all the cases where the meaning of current and present differs.

3. If you use it as a noun, the meanings differ:
The current can mean drift or electricity among other meanings.

The present can mean gift or present time. (see dictionary)

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