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Generally it means it is the maximum speed permissible in a given area. It does NOT mean that you must drive at that speed.

There are also places where it would mean it is the minimum advised speed, the shape and colour of the sign would be different and you would need to check local regulations to ascertain what these differences are.

In the US, as in many places, the numeral is in the middle, with the written text top and bottom. This is usually "speed limit" but can be "minimum speed" -- in many cases these highway signs have been replaced by dual signs with the limit at the top and the minimum written somewhat smaller below.

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