French non-financial debt: foreign currency
French non-financial debt: foreign currency stood at 110,580 EUR million in Aug 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Debt securities issuance table (Value · Monthly), with a complete series running from Jan 2004 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Debt securities issuance table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt securities of non-financial corporations: currency and growth | |||||||||||
| Outstanding, foreign currency | 110,580 | 111,320 | 112,680 | 109,150 | 108,610 | 107,220 | 104,650 | 106,320 | 101,800 | 103,180 | |
| Gross issues, 12-month cumulative | 403,400 | 402,620 | 398,980 | 394,660 | 390,920 | 377,400 | 376,290 | 378,020 | 373,020 | 375,090 |
Understanding french non-financial debt: foreign currency
Corporate entities operating outside the financial sector maintain capital market liabilities denominated in currencies other than the domestic legal tender. This metric tallies the outstanding nominal stock of foreign-currency debt instruments issued by non-financial enterprises, capturing offshore financing strategies and cross-border currency exposures. Excluded from this count are all liabilities denominated in the home currency, as well as loans secured directly from commercial banks. Comparing this figure with its domestic currency sibling reveals the extent to which commercial enterprises rely on external foreign exchange markets for capital.
Reading these balances requires careful attention to exchange rate fluctuations, which can significantly alter the reported domestic currency equivalent of foreign debt without any change in underlying foreign-currency principal. Revisions may occur when reporting agents update their exchange rate valuation methods or correct currency classifications. Analysts should avoid direct comparisons with euro-denominated debt stocks due to differing volatility profiles driven by currency markets. Seasonality is generally absent from outstanding stock figures, making underlying structural shifts easier to identify across successive reporting cycles.
Frequently asked questions
- How do exchange rate movements affect this series?
- Fluctuations in exchange rates alter the domestic currency valuation of foreign-denominated debt without any underlying transaction.
- Does this measure include bank loans denominated in foreign currency?
- No, it only captures structured debt securities traded on capital markets.
- Why do firms issue debt in foreign currencies?
- Companies often do this to match foreign revenues or tap deeper international investor pools.