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Default Date format clarification

When a user selects the 14-Mar-01 standard date format in Excel 2007, then
selects the custom format option, this is the standard format that displays:

[$-409]d-mmm-yy;@

What is the significance of the prefix "[$-409]" included with this standard
format? Why is that prefix even necessary and is it necessary to include
the prefix for all custom date formats we create?

Thank you for any help.

 
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