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exchange2 [transitive]
1
a) to give someone something and receive the same kind of thing from them at the same time : 
We exchange gifts at Christmas.At the end of the game, players traditionally exchange shirts with each other. We exchanged phone numbers.
We exchange gifts at Christmas.At the end of the game, players traditionally exchange shirts with each other.We exchanged phone numbers.b) to give someone something and receive something different from them [= change]
2 to replace one thing with another [= swap]
exchange something for something He exchanged the black jacket for a blue one.
He exchanged the black jacket for a blue one.3 if two people exchange words, looks etc, they talk to each other, look at each other etc : Until this evening I had never so much as exchanged a word with him. The two women exchanged glances and laughed. I went over and exchanged greetings with everyone.
exchange words/looks etc (with somebody)
Until this evening I had never so much as exchanged a word with him.The two women exchanged glances and laughed.I went over and exchanged greetings with everyone.5 to discuss something or share information, ideas etc : It's a place where people can chat and exchange ideas.
exchange information/ideas etc
It's a place where people can chat and exchange ideas.6 to complete the final stage of buying a house by signing a contract with the person you are buying it from
exchange contracts
especially British EnglishBBT —exchangeable adjective
