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The sterling area was a group of countries that either pegged their currencies to the pound sterling, or actually used the pound as their own currency.The area began to appear informally during the early 1930s, after the pound had left the gold standard in 1931, with the result that a number of currencies of countries that historically had performed a large amount of their trade in sterling were pegged to sterling instead of to gold.A large number of these countries were members of the British Empire and Commonwealth; however, a significant minority were not.Early in the Second World War, emergency legislation united the sterling bloc countries and territories of the British Empire in a single exchange control area to protect the external value of the pound, among other aims.

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