/ streɪt; NAmE / noun
1.
[ pl. ] (also straits ) (especially in the names of places) a narrow passage of water that connects two seas or large areas of water :
the Strait(s) of Gibraltar
2.
straits [ pl. ] a very difficult situation especially because of lack of money :
The factory is in dire straits .
She found herself in desperate financial straits.
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WORD ORIGIN
Middle English : shortening of Old French estreit tight, narrow, from Latin strictus drawn tight, past participle of stringere tighten, draw tight.