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// replace any occurences of str with a matching key:value pair
function replacements(template, replacement) {
  return template.replace(/{([^}]+)}/g, function (match) {
    return replacement[match];
  });
}

// usage
var template = 'Hi { name }, you are { age } years old.';
console.log(
  replacements(template, {
    '{ name }': 'Chris',
    '{ age }': 50
  })
);

// outputs
// Hi Chris, you are 50 years old.