Egyptian pound steady for eighth straight dollar sale

Egypt sold dollars at 7.53 pounds per dollar on Sunday, the eighth central bank auction this month, as the pound weakened slightly on the black market. The bank began letting the official exchange rate weaken on Jan. 18 in an effort to wipe out black-market trading, but it has kept the rate steady for two weeks now.The bank's moves to pressure the black market come alongside government efforts to bolster the economy and burnish Egypt's image before a major investment conference next mo