javascript:Template literal parser for non es6 strings

ES5 template literal parser

function interpolate(text, literals) {
	return text.replace(new RegExp(/\$\{(\w+)\}/, "g"), function() { 
		if(arguments[1] in literals) {
			return literals[arguments[1]]; 
		}
		throw new Error("Literal "+arguments[1]+" doesn't exist for text replacement");
	});
}

In ES6 this would be parsed fine

var myDictOfVars = {
    'user_name': "Clarence",
    'person_of_interest': "David"
}; 

var enWelcomeString = `Hi ${myDictOfVars.user_name}, did you enjoy the beach with ${myDictOfVars.person_of_interest}?`;
var deWelcomeString = `Hallo, Magst du den Strand mit ${myDictOfVars.person_of_interest}, ${myDictOfVars.username}?`;

An example

var myDictOfVars = {
    'user_name': "Clarence",
    'person_of_interest': "David"
}; 

var enWelcomeString = _("Hi ${user_name}, did you enjoy the beach with ${person_of_interest}?", myDictOfVars);
var deWelcomeString = _("Hallo, Magst du den Strand mit ${person_of_interest}, ${username}?", myDictOfVars);