Current Account: The current account is a component of the balance of payments that records trade in goods and services, net income from abroad (such as wages and investments), and unilateral transfers.
Capital Account: The capital account tracks international transactions involving assets like real estate, stocks, bonds, and loans. It reflects changes in ownership or financial claims between residents and non-residents.
Official Reserves: Official reserves refer to foreign currency holdings (such as US dollars) held by central banks to manage exchange rates and ensure stability in international transactions.