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v. ex·changed, ex·chang·ing, ex·chang·es v.tr. 1. To give in return for something received; trade: exchange dollars for francs; exchanging labor for room and board. 2. To give and receive reciprocally; interchange: exchange gifts; exchange ideas. 3. To give up for a substitute: exchange a position in the private sector for a post in government. 4. To turn in for replacement: exchange defective merchandise at a store. v.intr. 1. To give something in return for something received; make an exchange. 2. To be received in exchange: At that time the British pound exchanged for $2.80. n. 1. The act or an instance of exchanging: a prisoner exchange; an exchange of greetings. 2. One that is exchanged. 3. A place or network for exchanging things, especially a center where securities or commodities are bought and sold. 4. A telephone exchange. 5. a. A system of payments using instruments, such as negotiable drafts, instead of money. b. The fee or percentage charged for participating in such a system of payment. 6. A bill of exchange. 7. A rate of exchange. 8. The amount of difference in the actual value of two or more currencies or between values of the same currency at two or more places. 9. A dialogue: a heated exchange between the two in-laws. adj. Of or relating to a reciprocal arrangement between a local and a foreign institution or group: an exchange student; exchange programs for students learning foreign languages. [Middle English eschaungen, from Anglo-Norman eschaungier, from Vulgar Latin *excambiāre : Latin ex-, ex- + Late Latin cambīre, to exchange, barter; see CHANGE.] ex·changea·ble adj. |
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