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sterling area
noun
- 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 Also calledsterling blocscheduled territories
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Example Sentences
It will enable the whole sterling area and other countries affiliated with it to resume trade on a multilateral basis.
From Project Gutenberg
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