No, local is more close to this: 
{
    $orig_value = \$x;
    *x = \$tmp_new_value;
    ....;
    *x = $orig_value;
}

[download]

and the OP has reported a genuine bug

Dave.

In reply to Re^2: search position is getting reset after 'local' by dave_the_m
in thread search position is getting reset after 'local' by jesuashok

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