n. & v.
--n.
1. the act or an instance of giving one thing and receiving another in its place.
2 a the giving of money for its equivalent in the money of the same or another country. b the fee or percentage charged for this.
3 the central telephone office of a district, where connections are effected.
4 a place where merchants, bankers, etc. gather to transact business.
5 a an office where certain information is given or a service provided, usu. involving two parties. b an employment office.
6 a system of settling debts between persons (esp. in different countries) without the use of money, by bills of exchange (see BILL(1)).
7 a a short conversation, esp. a disagreement or quarrel. b a sequence of letters between correspondents.
8 Chess the capture of an important piece (esp. a rook) by one player at the loss of a minor piece to the opposing player.
9 (attrib.) forming part of an exchange, e.g. of personnel between institutions (an exchange student).
--v.
1. tr. (often foll. by for) give or receive (one thing) in place of another.
2 tr. give and receive as equivalents (e.g. things or people, blows, information, etc.); give one and receive another of.
3 intr. (often foll. by with) make an exchange.
Phrases and idioms:
exchange rate the value of one currency in terms of another. in exchange (often foll. by for) as a thing exchanged (for).
Derivatives:
exchangeable adj. exchangeability n. exchanger n.
Etymology: ME f. OF eschangier f. Rmc (as EX-(1), CHANGE)