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1. Chemical process in which one atom, ion or group changes places with another
    
2. A mutual expression of views (especially an unpleasant one)
   "they had a bitter exchange"
    
3. The act of changing one thing for another thing
   "Adam was promised immortality in exchange for his disobedience";
   - interchange
    
4. The act of giving something in return for something received
   "deductible losses on sales or exchanges of property are allowable"
    
5. A workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication
   - central, telephone exchange
    
6. A workplace for buying and selling; open only to members
    
7. (sport) an unbroken sequence of several successive strokes
   "after a short exchange Connors won the point";
   - rally
    
8. Reciprocal transfer of equivalent sums of money (especially the currencies of different countries)
   "he earns his living from the exchange of currency";
   - interchange
    
9. The act of putting one thing or person in the place of another
   "he sent Smith in for Jones but the exchange came too late to help";
   - substitution, commutation
    
10. (chess) gaining (or losing) a rook in return for a knight or bishop
    "black lost the exchange"
     
11. (chess) the capture by both players (usually on consecutive moves) of pieces of equal value
    "the endgame began after the exchange of queens"

1. Give to, and receive from, one another
   "We have been exchanging letters for a year";
   - change, interchange
    
2. Exchange or replace with another, usually of the same kind or category
   "He exchanged his name";
   - change, commute, convert
    
3. Change over, change around, as to a new order or sequence
   - switch over, switch
    
4. Hand over one and receive another, approximately equivalent
   "exchange prisoners"; "exchange employees between branches of the company"
    
5. Put in the place of another; switch seemingly equivalent items
   "exchange regular milk with fat-free milk";
   - substitute, replace, interchange, sub
    
6. Exchange a penalty for a less severe one
   - commute, convert

Derived forms: exchanges, exchanged, exchanging

Type of: alter, capture, change, change by reversal, chemical phenomenon, commerce, commercialism, conversation, dealing, dealings, group action, mercantilism, modify, reassign, replace, reverse, transaction, transfer, turn, work, workplace

Part of: phone system, telephone system

Encyclopedia: Exchange, Indiana Exchange Exchange, Nottingham Exchange, West Virginia Exchange, WV