Rupee Time Machine
What Rs 1 lakh from 2013 is worth today
Put Rs 1 lakh in US stocks at the end of 2013, and by 29 Sep 2026 it was worth Rs 13.6 lakh. Over the same years prices rose ×3.25: anything that ended below Rs 3.2 lakh lost buying power.
Prices rose ×3.25 since 2013. Bars left of the dashed line fell behind prices.
- US stocks (S&P 500), in rupeesRs 13.6 lakh ×13.6stocks ×5.20 in dollars, then the dollar ×2.62 in rupees
- GoldRs 9.2 lakh ×9.20
- PSX (KSE-100)Rs 6.7 lakh ×6.71
- Savings (policy rate, before tax)Rs 3.6 lakh ×3.64
- Plot, Lahore (asking prices)Rs 3.6 lakh ×3.58
- US dollars, as cashRs 2.6 lakh ×2.62
- Cash at homeRs 1 lakh ×1.00
PSX, SBP, PBS via IMF, sarafa association, LBMA, S&P Dow Jones Indices, Zameen. Markets to 29 Sep 2026; CPI to Aug 2026. KSE-100 includes dividends before tax. Past returns don’t predict future ones.
| Where it went | Worth now | Growth | After inflation, in 2013 rupees |
|---|---|---|---|
| US stocks (S&P 500), in rupees | Rs 13.6 lakh | ×13.6 | Rs 4.2 lakh |
| Gold | Rs 9.2 lakh | ×9.20 | Rs 2.8 lakh |
| PSX (KSE-100) | Rs 6.7 lakh | ×6.71 | Rs 2.1 lakh |
| Savings (policy rate, before tax) | Rs 3.6 lakh | ×3.64 | Rs 1.1 lakh |
| Plot, Lahore (asking prices) | Rs 3.6 lakh | ×3.58 | Rs 1.1 lakh |
| US dollars, as cash | Rs 2.6 lakh | ×2.62 | Rs 80,810 |
| Cash at home | Rs 1 lakh | ×1.00 | Rs 30,805 |
Rs 1 lakh from other years
How we got these numbers
- PSX: the KSE-100, a total-return index (cash dividends added back, before tax).
- Gold: the Karachi sarafa rate per tola where one is recorded, otherwise the London (LBMA) price × the dollar rate.
- Savings: the State Bank policy rate, averaged over each year and compounded, before tax.
- US stocks: the S&P 500 with dividends, converted at the interbank dollar rate. Pakistanis couldn't freely buy these, so treat it as a benchmark.
- Plot: Zameen's Lahore index of asking prices. Not sale prices, and no rent included.
- Prices: the consumer price index from PBS via the IMF, to Aug 2026.
Full series, sources and caveats: data and methods.
Questions
- Which did better in Pakistan since 2013: gold, the PSX or the dollar?
- From the end of 2013 to 29 Sep 2026, gold grew ×9.20, the PSX (KSE-100, with dividends) ×6.71 and the US dollar ×2.62 in rupees, while prices rose ×3.25. The ranking depends on the start year: from 2010 the PSX beat gold; from 2015 gold beat the PSX.
- Does the KSE-100 figure include dividends?
- Yes. The KSE-100 is a total-return index: PSX adds cash dividends back into it, before withholding tax. A real investor received slightly less after tax, roughly one percentage point a year.
- What does "savings" mean here?
- The State Bank policy rate, averaged over each calendar year and compounded, before tax. It is a proxy for T-bills and money-market funds. Most bank savings accounts paid less.
- Is this investment advice?
- No. stox is an education service. These are historical numbers with their sources. Past returns do not predict future ones.