Current measuring device keeps fluctuation range for the ratio error in output within ±0.5% range and simplified assembly thereof. The measuring device includes at least a light entrance and exit, optical fiber for a sensor, Faraday rotator, first and second ¼-wavelength plates, polarization separator, light source, and signal-processing-circuit including a photoelectric-conversion-element. Optical fiber for a sensor has birefringence and includes one end wherein two circularly polarized light-beams having different rotation enter directions and another end reflects circularly polarized light-beams entered. Phase difference of two linearly polarized light-beams in the round-trip light path between two ¼-wavelength plates is compensated, and the Faraday rotational angle when the Faraday rotator is magnetically saturated set to 22.5°+α° so fluctuation range for ratio error in measured value of the current to be measured is set in range, ±0.5%. The crystal-axes on optical faces of two ¼-wavelength plates are set to be perpendicular or same direction.