CurrentStatus is similar to posting your current status in Facebook. If we create a Post in Facebook, it will be available in your posts. Similarly whenever this current status is updated, a new Post will be posted in your chatter.

If you update this field, the API automatically adds a post of type UserStatus on the user’s profile in Chatter.

This field is deprecated in API version 25.0. To achieve similar behavior, post to the user directly by creating a FeedItem with the user’s ParentId.

Cheers!