<p><strong>Verb</strong></p><ul><li>(used with object):<ul><li>to give up (something) for something else; part with for some equivalent; change for another.</li><li>to replace (returned merchandise) with an equivalent or something else: Most stores will allow the purchaser to exchange goods.</li><li>to give and receive reciprocally; interchange: to exchange blows; to exchange gifts.</li><li>to part with in return for some equivalent; transfer for a recompense; barter: to exchange goods with foreign countries.</li><li>(in chess) to capture (an enemy piece) in return for a capture by the opponent generally of pieces of equal value.</li></ul></li></ul><p><strong>Noun</strong></p><ul><li>the act, process, or an instance of exchanging: The contesting nations arranged for an exchange of prisoners; money in exchange for services.</li><li>something that is given or received in exchange or substitution for something else: The car was a fair exchange.</li><li>a place for buying and selling commodities, securities, etc., typically open only to members.</li><li>the method or system by which debits and credits in different places are settled without the actual transfer of money, by means of bills of exchange representing money values.</li><li>the discharge of obligations in different places by the transfer of credits.</li><li>the amount or percentage charged for exchanging money, collecting a draft, etc.</li><li>the reciprocal transfer of equivalent sums of money, as in the currencies of two different countries.</li><li>the giving or receiving of a sum of money in one place for a bill ordering the payment of an equivalent sum in another.</li><li>exchange rate: the amount of the difference in value between two or more currencies, or between the values of the same currency at two or more places.</li><li>the checks, drafts, etc., exchanged at a clearinghouse.</li><li>(in chess) a reciprocal capture of pieces of equivalent value by opponents in a single series of moves.</li></ul>