exchange

I. noun Usage: often attributive Etymology: Middle English exchaunge, from Anglo-French eschange, from eschanger to exchange, from Vulgar Latin *excambiare, from Latin ex- + cambiare to exchange — more at change Date: 14th century 1. the act of giving or taking one thing in return for another ; trade <

an exchange of prisoners

> 2. a. the act or process of substituting one thing for another b. reciprocal giving and receiving 3. something offered, given, or received in an exchange 4. a. funds payable currently at a distant point either in a foreign currency or in domestic currency b. (1) interchange or conversion of the money of two countries or of current and uncurrent money with allowance for difference in value (2) exchange rate (3) the amount of the difference in value between two currencies or between values of a particular currency at two places c. instruments (as checks or bills of exchange) presented in a clearinghouse for settlement 5. a place where things or services are exchanged: as a. an organized market or center for trading in securities or commodities b. a store or shop specializing in merchandise usually of a particular type c. a cooperative store or society d. a central office in which telephone lines are connected to permit communication II. verb (exchanged; exchanging) Date: 15th century transitive verb 1. a. to part with, give, or transfer in consideration of something received as an equivalent b. to have replaced by other merchandise <

exchanged the shirt for one in a larger size

> 2. to part with for a substitute <

exchanging future security for immediate pleasure

> 3. to give and receive reciprocally <

exchange gifts

> intransitive verb 1. to pass or become received in exchange 2. to engage in an exchange • exchangeability noun • exchangeable adjective • exchanger noun