JSFiddle - React, Tailwind, and code Playground

HTML

<div id='display'></div>

JavaScript

var string = 'This $ should be greater than $ always';
arr = ["val1", "val2"];

$.each(arr, function(k,v){
    string = replaceAt(string,string.indexOf('$'), v);
});

$('#display').html(string);

// replace the 'n'th character of 's' with 't'
function replaceAt(s, n, t) {
    return s.substring(0, n) + t + s.substring(n + 1);
}