Claims about a BRICS “plan” against the dollar circulate often, and it’s worth separating documented statements from speculation. The BRICS bloc (Brazil, Russia, India, China, South Africa, plus newer members) has publicly discussed increasing trade settlement in local currencies and exploring a potential shared payment mechanism, this is documented in BRICS summit declarations, publicly available.

What has not happened, as of current public record: BRICS has not launched a unified common currency, and no credible economic body has set a specific date for the dollar losing reserve-currency status. The dollar still represents roughly 58% of global foreign exchange reserves per the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) data, the most reliable public tracker of this exact question.

If you want to track this topic accurately, the IMF’s COFER database and official BRICS summit declarations are the primary sources, not a “three-phase plan” framing from a commentary channel.