A magnetoresistive head has a magnetoresistive film including first and second magnetization free layers, an intermediate layer sandwiched between the first and second magnetization free layers, an underlayer and a protective layer, which are stacked in the order of the underlayer, the first magnetization free layer, the intermediate layer, the second magnetization free layer and the protective layer and arranged to be substantially perpendicular to the air-bearing surface, and a first electrode connected with the underlayer and a second electrode connected with the protective layer, the electrodes allowing a current to flow in a direction substantially perpendicular to the plane. The intermediate layer includes a stacked film of a metal layer/an oxide layer, a stacked film of a metal layer/a nitride layer, a sandwich film of a metal layer/an oxide layer/a metal layer, or a sandwich film of a metal layer/a nitride layer/a metal layer.