sterling

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Sterling

A term for the British pound. While the official name of the currency is pound sterling, "sterling" tends to be used in accounting and foreign exchange contexts while "pound," and, less formally, "quid," are used in day-to-day transactions.

sterling

the name given to the UK POUND when used in international dealings, primarily to distinguish it from other countries also using the pound as a domestic currency. Formerly, large amounts of sterling were held by members of the British Commonwealth (the so-called ‘sterling area bloc’) and others, as part of their INTERNATIONAL RESERVES.

sterling

the name given to the UK POUND in international dealings to distinguish it from other countries using the pound as the basis of their currencies. Formerly, most countries extensively involved in international trade kept large sterling balances as part of their stock of INTERNATIONAL RESERVES, but nowadays sterling is little used as a reserve asset except by a number of current and former member countries of the British Commonwealth.
References in classic literature ?
began Stepan Arkadyevitch, in the simplicity of his heart accepting as sterling coin Princess Myakaya's words "tell me about her.
I was now master, all on a sudden, of above five thousand pounds sterling in money, and had an estate, as I might well call it, in the Brazils, of above a thousand pounds a year, as sure as an estate of lands in England: and, in a word, I was in a condition which I scarce knew how to understand, or how to compose myself for the enjoyment of it.
With all these sterling attributes, thought Hester, the evil which she inherited from her mother must be great indeed, if a noble woman do not grow out of this elfish child.
I dozed off, myself, in considering the question whether I ought to restore a couple of pounds sterling to this creature before losing sight of him, and how it could best be done.