EXCHANGE

[ex.change] n, often attrib [ME exchaunge, fr. MF eschange, fr. eschangier to exchange, fr. (assumed) VL excambiare, fr. L ex- + cambiare to exchange--more at change] (14c) 1: the act of giving or taking one thing in return for another: trade "an ~ 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 usu. of a particular type c: a cooperative store or society d: a central office in which telephone lines are connected to permit communication -- in exchange : as a substitute

[2]exchange vb ex.changed ; ex.chang.ing vt (15c) 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 "~ gifts" ~ vi 1: to pass or become received in exchange

2: to engage in an exchange -- ex.change.abil.i.ty n -- ex.change.able adj -- ex.chang.er n