sterling area

British  

noun

1. 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

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Example Sentences

“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

Britain's Sir Stafford Cripps last week declared flatly that Britain could not integrate her economy with Europe's "in any manner that would prejudice" Britain's responsibilities toward the Commonwealth and the sterling area.

From Time Magazine Archive

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

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.