The only country with a powerful enough economic background to create a reserve country in the "BRICS" (a meaningless grouping of countries by the way, as they are widely disparate and have tenuous economic links) is China. India is never going to enter into any sort of monetary union with China because they are both rivals in Asia trying to wrestle the most power in the region. South Africa is a legitimate, but fairly small economic power in the scheme of things. It would make more sense if some Middle Eastern countries were within the grouping but they are clearly missing too. It's a very flawed methodology to imply these countries would ever willingly share a currency.