Where did Pakistanis earn the most money in 2023

 

Investors took interest in the stock market, dollar transactions and gold buying and selling.

The year 2023 is approaching its end. After lagging for the past few years, the Pakistan equity market (investment, buying and selling of stock market shares) surpassed the key asset ranking in 2023.

According to the report, the benchmark's SE100 index rose 53% from January 1, 2023, to December 22, 2023, with 4 trading sessions left in 2023. According to a report by Topline Securities, this dividend includes the profit earned during that period.

Another favourite investment of local Pakistanis in the last few years has been the US dollar. In 2023, the dollar increased from Rs 226 to Rs 283 against the rupee in the interbank market and from Rs 236 to Rs 285 against the rupee in the open market with an increase of 21 per cent. If this amount was invested in a one-year term deposit at the beginning of the year, there would have been a 29% increase in inter-bank dollars and 25% in the open market (assuming a 4% return on US dollar deposits)

Similarly, Naya Pakistan US dollar certificate holders under Roshan Digital Account (RDA) also earned 33 per cent in rupee terms due to rupee depreciation.

Gold, which has given above-average returns to local investors over the past few years, has given good returns. In 2023, the price of 10 grams of gold increased from 1,57,836 grams to 186,900 grams, a gain of 18 percent. In the international market also, it increased from US $1826 per ounce on 30.12.2022 to US $2065 per ounce on 22.12.2023.

Another widely discussed route of investment has been government T-bills. Amid tight monetary policy, the government had to raise interest rates to record levels. As a result, the number of investors in T-bills increased by 23% in 2023.

Many investors opted for fixed income opportunities due to the high rate of return in 2023. In the fixed income market, the average bank savings rate in 2023 was 17%, while the National Savings 3-Year Special Savings Certificate (SSC) provided a benefit of 13%. Local AMC's money market funds achieved an average return of 20% in 2023