This article is from the Paper Money Collecting FAQ, by Bruce Giese firstname.lastname@example.org with numerous contributions by others.
This depends a lot on how you count them. For instance
the West African States covers eight countries, each has
a unique letter associated with it. Czechoslovakia recently
split into two countries, each having their own currency.
Lots of former Soviet countries are creating their own currency.
The Eastern Carribean dollar covers a lot of little independent
Here's a list of current paper money issuing governments. It
may be out of date by the time you read it. There are about
an equal number of governments which have issued paper money
in the past but not currently (such as South Vietnam and Biafra).
Afghanistan, Albania, Algeria, Angola, Argentina, Aruba, Australia,
Austria, Azerbaijan, Bahamas, Bahrain, Bangledesh, Barbados, Belarus,
Belgium, Belarus, Belize, Bermuda, Bhutan, Bolivia, Bosnia-Herzegovenia,
Botswana, Brazil, Brunei, Bulgaria, Burma/Myanmar, Burundi,
Cambodia/Kampuchea, Cameroon, Canada, Cape Verde, Cayman Islands,
Central African Republic, Chad, Chile, China, Colombia, Comoros,
Cook Islands, Costa Rica, Croatia, Cuba, Cyprus, Czeck Republic,
Denmark, Djibouti, Dominican Republic, East Carribean States, Ecuador,
Egypt, El Salvador, Equatorial Guinea, Estonia, Ethiopia, Faeroe Islands,
Falkland Islands, Fiji, Finland, France, Gabon, Gambia, Georgia, Germany,
Ghana, Gibralter, Great Britian, Greece, Guatamala, Guernsey, Guinea,
Guinea-Bissau, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland,
India, Indonesia, Iran, Iraq, Ireland, Isle of Man, Israel, Italy,
Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, North Korea,
South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho,
Liberia, Libya, Lithuania, Luxembourg, Macao, Macedonia, Madagascar,
Malawi, Malaysia, Maldives, Malta, Mauritania, Maritius, Mexico,
Moldavia, Mongolia, Morocco, Mozambique, Namibia, Nepal, Netherlands,
Netherlands Antilles, New Zealand, Nicaragua, Northern Ireland,
Norway, Oman, Pakistan,