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.]
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.
I shall interchange
My waned state for Henry's regal crown. --Shak.
2. To cause to follow alternately; to intermingle; to vary;
as, to interchange cares with pleasures.