exchange (Noun) — Chemical process in which one atom, ion or group changes places with another.
exchange (Noun) — A mutual expression of views (especially an unpleasant one). ex. "they had a bitter exchange"
exchange (Noun) — The act of changing one thing for another thing. ex. "Adam was promised immortality in exchange for his disobedience"
exchange (Noun) — The act of giving something in return for something received. ex. "deductible losses on sales or exchanges of property are allowable"
exchange (Noun) — A workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication.
exchange (Noun) — A workplace for buying and selling; open only to members.
exchange (Noun) — (sport) an unbroken sequence of several successive strokes. ex. "after a short exchange Connors won the point"
exchange (Noun) — Reciprocal transfer of equivalent sums of money (especially the currencies of different countries). ex. "he earns his living from the exchange of currency"
exchange (Noun) — The act of putting one thing or person in the place of another. ex. "he sent Smith in for Jones but the exchange came too late to help"
exchange (Noun) — (chess) gaining (or losing) a rook in return for a knight or bishop. ex. "black lost the exchange"
exchange (Noun) — (chess) the capture by both players (usually on consecutive moves) of pieces of equal value. ex. "the endgame began after the exchange of queens"
exchange (Verb) — Give to, and receive from, one another. ex. "We have been exchanging letters for a year"
exchange (Verb) — Exchange or replace with another, usually of the same kind or category. ex. "He exchanged his name"
exchange (Verb) — Change over, change around, as to a new order or sequence.
exchange (Verb) — Hand over one and receive another, approximately equivalent. ex. "exchange prisoners" ex. "exchange employees between branches of the company"
exchange (Verb) — Put in the place of another; switch seemingly equivalent items. ex. "exchange regular milk with fat-free milk"
exchange (Verb) — Exchange a penalty for a less severe one.