archer, n. — Green’s Dictionary of Slang

archer n.

[a sum of £2000, the disputed payment of which formed the basis of the libel case brought in 1987 against the Daily Star newspaper by the writer Jeffrey Archer (now Lord Archer, b.1940)]

£2,000.

1996–2003		T. Duckworth Dict. of Sl. 🌐 archer Noun. £2000. From the amount of money given by Jeffrey Archer to a prostitute (Monica Coughlan) to enable her to leave the country, and in order to buy her silence over services rendered. Jeffrey Archer, best selling author and currently serving a prison sentence for perjury.
1997		System Internet ‘Words That Could Be Confusing & Embarrassing In The UK & US’ 🌐 An Archer is 2000 pounds – named after a certain well known Tory MP and very successful author (Lord Jeffrey Archer) who gave this amount to a young lady ‘on the game’ (a prostitute) some years back to prevent her taking her story to the press. Allegedly.