Sterling area

E122377

The Sterling area was a post–World War II monetary bloc of countries and territories that pegged their currencies to the British pound and held their reserves largely in sterling.

All labels observed (2)

Label Occurrences
Sterling area canonical 3
sterling area 2

How this entity was disambiguated

Statements (50)

Predicate Object
instanceOf currency area
monetary bloc
alsoKnownAs sterling bloc
characteristic limited use of US dollar in intra-area settlements
members held external reserves largely in sterling
members maintained exchange controls favoring sterling
currencyPeggedTo Pound sterling
declinePeriod post-World War II decolonisation era
emerged interwar period
experienced contraction after 1949 sterling devaluation
further contraction after 1967 sterling devaluation
geographicalScope Africa
Asia
Europe
Oceania
historicalPeriod 20th century
influencedBy decolonisation
post-war balance of payments pressures on UK
rise of US dollar
keyMember Australia
British colonies
British dominions
British mandated territories
British protectorate
surface form: British protectorates

Sri Lanka
surface form: Ceylon

India
Ireland
Irish Free State
New Zealand
Pakistan
South Africa
United Kingdom
legalBasis exchange control regulations of member states
mainCenter United Kingdom
monetaryPolicyCenter Bank of England
peggedExchangeRateRegime fixed or quasi-fixed to pound sterling
purpose concentrate foreign exchange reserves in London
facilitate trade within the British Empire and Commonwealth
support the international role of pound sterling
relatedConcept currency bloc
reserve currency system
relatedTo Bretton Woods system
British Empire
Commonwealth of Nations
reserveCurrency Pound sterling
reserveManagementLocation London, England
surface form: London
significantAfter World War II
statusByLate20thCentury largely dissolved
tradeCharacteristic preference for settlement in sterling
usedExchangeControls true

How these facts were elicited

Referenced by (5)

Full triples — surface form annotated when it differs from this entity's canonical label.

Manx pound monetaryUnion Sterling area
Guernsey pound monetaryUnion Sterling area
Jersey pound monetaryUnion Sterling area
South African pound partOf Sterling area
this entity surface form: sterling area
British world-system usedInstrument Sterling area
this entity surface form: sterling area