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Not as far as i am aware of but COBOL can call C functions that may achieve the same result. i have not done that yet so am unaware of exactly how to go about that.

otherwise you can always do the following:

01 i pic s9(4) binary.
01 j pic s9(4) binary.

01 original-string pic x(255).
02 reversed-string pic X(255).

move length of original-string to j

perform varying i from 1 by +1 until i > length of original-string

move original-string(i:1) to reversed-string(j:1)
subtract 1 from j

end-perform