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sterling area

noun

  1. 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
“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


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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.

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sterlingsterling bloc