The Collaborative International Dictionary of English v.0.48:
Exchange \Ex*change"\, v. t. [imp. & p. p. Exchanged; p. pr. &
vb. n. Exchanging.] [Cf.OF. eschangier, F. ['e]changer. See
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
parted with); 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;
WordNet (r) 3.0 (2006):
adj 1: changed for (replaced by) something different