A synchronous rectifier is switched in accordance with a primary switch transition and a reference signal representing current in a current storage device to which the synchronous rectifier is coupled. A current emulator provides a signal representing current in the current storage device as a volt-second product so that current stored in the current storage device while the primary switch is on is discharged by the synchronous rectifier. The use of a current emulator provides an inexpensive solution for controlling synchronous rectifier transitions without resorting to more expensive current sensing solutions that are commercially impracticable. Blanking intervals are provided for avoiding false transitions of the synchronous rectifier when the primary switch turns on and after the synchronous rectifier turns off. The disclosed system and method can be applied to flyback converters for a synchronous rectifier on the secondary side of a transformer, or the inductor of buck converters.