Member Benefits
At the end of WWII the sterling area was the largest and most coherent currency bloc in the world, and it provided its members with full freedom of payments. Members enjoyed the benefits of stable exchange rates and permanent access to the financial resources of the City of London. Meanwhile, the British government was able to use the pooled reserves of the entire area's membership to back sterling at times when there was a US dollar shortage.
Read more about this topic: Sterling Area
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