“The RR datetime format element is similar to the YY datetime format element, but it provides additional flexibility for storing date values in other centuries. The RR datetime format element lets you store 20th century dates in the 21st century by specifying only the last two digits of the year.
If you use the TO_DATE function with the YY datetime format element, then the year returned always has the same first 2 digits as the current year. If you use the RR datetime format element instead, then the century of the return value varies according to the specified two-digit year and the last two digits of the current year.”
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