The term "sterling area" primarily refers to countries that use the British pound sterling as their currency. Some synonyms for this term include "pound zone," "pound currency area," and "sterling zone." Other related phrases include "sterling bloc" and "sterling zone system." The concept of a sterling area emerged in the mid-20th century when some countries still had strong ties to the British economy and the pound was a dominant global currency. However, with the decline of the British economy and the rise of other currencies such as the US dollar and the Euro, the term "sterling area" has lost some of its significance.