replace html tag

    I am having some characters like {i},{/i} in the xml file. whenever i
find the word like {i} in xml i shd replace the "{" with "<" and while
viewing the contents in the html browser i shd get the text to be italised
once it finds the tag like that..Can any one tell me how to do that ?

for example {i}Hi{/i} --> shd appear like Hi in italised format in
browser.