The rupee firmed against the dollar and stocks ended higher on Friday on expectations the International Monetary Fund will approve the country's third loan trance and reports a top militant was killed, dealers said. The rupee closed at 82.27/37 to the dollar, strengthening from Thursday's close of 82.50/60. Pakistan obtained a $7.6 billion emergency loan package from the IMF last November to avert a balance of payments crisis. The third tranche of about $850 million is expected to be approved when its board meets on Friday. "The IMF is expected to approve the third trance and the additional loan which is why we've seen the rupee strengthen this week," said a local currency dealer. Pakistan has also said it would request an extra $4 billion as "insurance" to help it cope with its economic crisis. The rupee has lost 3.85 percent this year after losing 22.12 percent in 2008. Pakistani stocks rose 0.64 percent, or 49.91 points, to end at 7,872.23 on turnover of 112.5 million shares.
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