Definition of: exchange

(iks·chānj′) noun
1. The act of giving or receiving one thing as an equivalent for another; a trade; a bartering: an exchange of prisoners.
2. Interchange: an exchange of wit, remarks, etc.
3. The mutual giving and receiving of equivalents in money, goods, or labor.
4. The system by which titles to commodities in distant localities are transferred by means of credits, drafts, etc.
5. The rate of exchange.
6. The percentage of difference between currencies of values at two given places.
7. Bills, drafts, etc., presented to a clearing house for settlement.
8. A transition from one experience or condition to another.
9. That which is given or received by interchange, as a periodical or an advertisement exchanged for another.
10. A place where merchants or brokers effect exchanges: a stock exchange. See CURB¹.
11. A central telephone office.
12. Physics The mutual interaction between the electrons, protons, and other components of the same or different atoms.
13. Brit. A labor exchange. See synonyms under INTERCOURSE.
—bill of exchange A written order or request from one person to another for the payment of money to a third, the amount to be charged to the drawer of the bill.
—par of exchange The comparison of value in gold of the monetary units of two different countries.
—rate of exchange The price at which a bill drawn in one country upon a drawee in another country may be sold where drawn.
—v. ·changed, ·chang·ing v.t.
1. To give or part with for something regarded as of equal value, etc.: to exchange francs for dollars.
2. To give and receive in turn; reciprocate.
3. To replace by or give up for something else: to exchange poverty for wealth.
—v.i.
4. To be given or taken in exchange: American money exchanges well.
5. To make an exchange. See synonyms under CHANGE. [<AF eschaunge <LL excambium <excambiare <ex- out + cambiare exchange]
—ex·change′a·bil′i·ty noun
—ex·change′a·ble adjective
—ex·change′a·bly adverb