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Yes it is- 7.62mm is also called 30 calibre and is 3/5ths the diameter of the Browning 50 cal. 7.62 is the older NATO standard round diameter, from 30-40 Krag, 30 Springfield , 30:06, 30M1, 308, and now 300 WinMag. Also the commie blok SKS,AK47 and Dragonoff. Currently replaced in NATO close combat arms by the 223- 5.56mm.

Actually, the 12.7x99 cartridge (also known as .50 Browning Machine Gun) is a much older cartridge than the 7.62x51 NATO cartridge and the 7.62x39 M43 cartridge used by the Soviet Bloc and client states. The .50 BMG cartridge was introduced in the early 1930s, whereas the 7.62x51 NATO cartridge was introduced in the late 1950s. It is essentially a shortened .30-06 (7.62x63) cartridge. Not all 7.62 ammo has the same diameter - 7.62x63 and 7.62x51 has a projectile diameter of .308 inches (7.82mm); 7.62x39 ad 7.62x54R have a cartridge diameter of .312 inches (7.92mm), etc.

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