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TeachMeFinance.com - explain Short of sterling historic definition... 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. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.