Main Entry: ¹ex·change

Pronunciation: \iks-ˈchānj, ˈeks-ˌ\

Function: 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

— in exchange : as a substitute