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ex·change  (ĭks-chānj′)v. ex·changed, ex·chang·ing, ex·chang·es v.tr.1. To give in return for something received; trade: exchange dollars for francs; exchanging labor for room and board.2. To give and receive reciprocally; interchange: exchange gifts; exchange ideas.3. To give up for a substitute: exchange a position in the private sector for a post in government.4. To turn in for replacement: exchange defective merchandise at a store.v.intr.1. To give something in return for something received; make an exchange.2. To be received in exchange: At that time the British pound exchanged for $2.80.n.1. The act or an instance of exchanging: a prisoner exchange; an exchange of greetings.2. One that is exchanged.3. A place or network for exchanging things, especially a center where securities or commodities are bought and sold.4. A telephone exchange.5. a. A system of payments using instruments, such as negotiable drafts, instead of money.b. The fee or percentage charged for participating in such a system of payment.6. A bill of exchange.7. A rate of exchange.8. The amount of difference in the actual value of two or more currencies or between values of the same currency at two or more places.9. A dialogue: a heated exchange between the two in-laws.adj. Of