TeachMeFinance.com - explain Short of sterling
Short of sterling -- The term in full is short of sterling exchange,
but it is almost invariably used in its abbreviated form.
When a drawer of exchange has issued (sold) sterling exchange against merely the drawer's credit wth the concerns
upon which he has drawn or in excess of the commercial or
other bills which he has on hand to use in covering (paying)
the exchange he has sold he is short of sterling exchange.
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