# Sterling area

- Canonical URL: https://www.gerhardmerk.de/sterling-area-2
- Post ID: 590678
- Modified: 2023-07-25T21:13:00+00:00
- Language: en

## Definition

Former important association of states - above all all all Commonwealth countries with the exception of Canada - which based their currency on the pound sterling; until about 1950, half of the world's exchange of goods was invoiced in GBP. - Its origins date back to 1931, when England abandoned the gold standard. The Exchange Control Act 1947 circumscribed the community in more detail. Foreign exchange reserves were pooled in London and payments between participants were exempted from exchange control measures. In the course of England's rapprochement with Europe and the growing importance of the U.S., the association dissolved in 1952. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

- Generator: Merk Knowledge 1.1.1