A magnetic balance type current sensor measures a measured current which flows in a feedback coil when electrical conduction is provided by a voltage difference according to an induction magnetic field from the measured current and an equilibrium state is reached in which the induction magnetic field and a cancel magnetic field cancel each other. Sensor elements in a pair are arranged at positions with magnetic field from the measured current. The magnetization direction of the pinned magnetic layer in the magnetoresistive effect element of one sensor element is aligned in a forward direction with respect to the magnetic field formed by the measured current. The magnetization direction of the pinned magnetic layer in the magnetoresistive effect element of the other sensor element is aligned in a reverse direction with respect to the magnetic field formed by the measured current.