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The Collaborative International Dictionary of English v.0.48:

Interchange \In`ter*change"\, v. t. [imp. & p. p. Interchanged; p. pr. & vb. n. Interchanging.] [OE. entrechangen, OF. entrechangier. See Inter-, and Change.] [1913 Webster] 1. To put each in the place of the other; to give and take mutually; to exchange; to reciprocate; as, to interchange places; they interchanged friendly offices and services. [1913 Webster] I shall interchange My waned state for Henry's regal crown. --Shak. [1913 Webster] 2. To cause to follow alternately; to intermingle; to vary; as, to interchange cares with pleasures. [1913 Webster]