Financial historians have noted sterling's persistence as a reserve currency after the Second World War. Yet they regard Australia, the leading ‘sterling area’ country, as an early diversifier, substituting other assets for sterling, and the sterling area as an irrelevance by the 1960s. This is an archive‐based account of Australia's reserve management in 1950–68, emphasising the persistence of reserves pooling. Acquisition of non‐sterling assets in 1951–61 was limited to gold production and undermined by Australia's balance‐of‐payments volatility. Diversification only began in 1962, largely through the International Monetary Fund ‘gold tranche’. Diversification was gradual, hidden, and constrained by sterling area membership.

中文翻译：

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英镑作为储备货币的持续性：澳大利亚和储备池，1950-68年

金融历史学家指出，第二次世界大战后，英镑的持续存在成为储备货币。然而，他们认为澳大利亚是领先的“英镑地区”国家，是早期的多元化经营者，它用其他资产替代英镑，而英镑地区则在1960年代已不再重要。这是1950-68年澳大利亚基于储备金管理的档案，强调了储备金池的持久性。1951-61年期间，非英镑资产的收购仅限于黄金生产，并且由于澳大利亚国际收支的波动性而受到损害。多元化只是在1962年才开始，主要是通过国际货币基金组织的“黄金档”进行的。多元化是渐进的，隐蔽的，并受到英镑地区会员制的限制。