6. The place where the merchants, brokers, and bankers of a city meet at certain hours, to transact business. In this sense often contracted to 'Change. Arbitration of exchange. See under Arbitration. — Bill of exchange. See under Bill. — Exchange broker. See under Broker. — Par of exchange, the established value of the coin or standard of value of one country when expressed in the coin or standard of another, as the value of the pound sterling in the currency of France or the United States. The par of exchange rarely varies, and serves as a measure for the rise and fall of exchange that is affected by the demand and supply. Exchange is at par when, for example, a bill in New York, for the payment of one hundred pounds sterling in London, can be purchased for the sum. Exchange is in favor of a place when it can be purchased there at or above par. — Telephone exchange, a central office in which the wires of any two telephones or telephone stations may be connected to permit conversation.
Syn.
— Barter; dealing; trade; traffic; interchange.
EXCHANGE
Ex*change", v. t. [imp. & p. p. Exchanged;p. pr. & vb. n.
Exchanging.] Etym: [Cf.OF. eschangier, F. échanger. See Exchange, n.]
1. To part with give, or transfer to another in consideration of something received as an equivalent; — usually followed by for before the thing received. Exchange his sheep for shells, or wool for a sparking pebble or a diamond. Locke.
2. To part with for a substitute; to lay aside, quit, or resign (something being received in place of the thing as, to exchange a palace for cell. And death for life exchanged foolishly. Spenser. To shift his being Is to exchange one misery with another. Shak.
3. To give and receive reciprocally, as things of the same kind; to barter; to swap; as, to exchange horses with a neighbor; to exchange houses or hats. Exchange forgiveness with me, noble Hamlet. Shak.
Syn. — To barter; change; commute; interchange; bargain; truck; swap; traffic.
EXCHANGE
Ex*change", v. i.
Defn: To be changed or received in exchange for; to pass in exchange; as, dollar exchanges for ten dimes.
EXCHANGEABILITY
Ex*change`a*bil"i*ty, n.