Where is my current date used? What is so special about this? Should I care about it? These are the questions you will get on looking at Project Information dialog (Project ribbon, Project Information command).
This field is special. It updates itself with the system date every time you open a plan. The date in this field is used in multiple places within Project.
1: In time-scale views, such as Gantt Chart or Team Planner, the vertical line is drawn with respect to current date
2: If you want new tasks inserted to be scheduled with respect to current date, you can change "Auto scheduled tasks scheduled on:" to Current date in File, Options dialog. This means new tasks inserted will be set Start No Earlier than constraint (if the project is scheduled forward) or Start No Later than constraint (if the project is scheduled backward)
3: To update work as complete through the current date click Project, Update Project command. Note: In Update Project dialog, though the default date is current date, Project defaults the time to 5:00 pm.
So, the next time you see the Current Date remember these benefits