There are currently 180 currencies that are circulating either as official or de facto currencies of the 193 United Nations (UN) member states, two UN observer states, nine partially recognized or unrecognized states, and 33 dependencies. These currencies include paper, cotton, and polymer banknotes and metal coins. Countries generally have a monopoly on the issuing of currency, although some countries share currencies with other countries. Today, currencies are the dominant medium of exchange. Different countries may use the same term to refer to their respective currencies, even though the currencies may have little else to do with each other. In some countries, the currencies used vary regionally. For example, four currencies circulate in the partially recognized state of the Sahrawi Arab Democratic Republic, which claims the territory of Western Sahara. Some currencies, such as the Nagorno-Karabakh dram (pictured), are not used in day-to-day commerce, but are legal tender. (Full list...)