sterling area

British

noun

Also called: sterling bloc. scheduled territories. a group of countries that use sterling as a medium of international payments and sometimes informally as a currency against which to peg their own currencies. For these purposes they deposit sterling balances and hold gold and dollar reserves in the Bank of England

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

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sterling area

“We built up the pre-war sterling area because we were bankers amiable to treat with and having a long record of honouring our cheques.”

From Economist ● Jun. 28, 2018

Because the Scottish people are concerned about joining the Euro, he now says he would join the pound sterling area.

From BBC ● Sep. 6, 2012

What if the sheikdom of Kuwait, now the world's richest known oilfield, should sever its connections with Britain and the sterling area?

From Time Magazine Archive

Lord Beaverbrook had argued that Britain could get along by trading in her own sterling area.

From Time Magazine Archive

It will enable the whole sterling area and other countries affiliated with it to resume trade on a multilateral basis.

From State of the Union Address by Truman, Harry S.

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023