See Also: Exchange(medicine)
Exchange, The(finance)
Value in Exchange(money)
Exchange, gas(health)
Exchange(money)
EXCHANGE(finance)
ion exchange(medicine)
Exchange Value(money)
Gas exchange(health)
exchange(1)(dictionary)

exchange(1) (iou)



exchange noun. LME.
[Anglo-Norman eschaunge, Old French eschange (French echange), from eschangier (see EXCHANGE verb); ex- by assim. to Latin EX-1.]
The action, or an act, of reciprocal giving and receiving (of goods, money, prisoners, blows, ideas, etc.). LME.
N. Monsarrat A straight exchange, the veal loaf for the barrel. Proverb: (Fair) exchange is no robbery.
b. Chess. A capture first by one player and then by the other, as part of a single combination or manoeuvre. M18.
c. A reciprocal arrangement in which two people in different countries but usu. in similar roles change places for a period. E20.
exchange professor, exchange student, etc.
d. A brief conversation, a discussion; an argument; a sequence of letters between correspondents. M20.
J. Jones This exchange of letters between a middle-aged clerk and a girl. P. L. Fermor Her husband had come in a little while before and overheard our exchange. C. Priest Polite exchanges and pleasantries.
The giving and receiving of money for its equivalent in money of the same or another country; the trade of a money-changer. LME.
b. The profit obtained by a money-changer or moneylender. M16-M18.
a. A building, office, institution, etc., used for the transaction of business or for monetary exchange. LME.
b. In full telephone exchange. A place where telephone calls are connected between different lines. L19.
c. A Labour Exchange. L19.
a. = bill of exchange s.v. BILL noun3 9. LME.
b. The financial system by which commercial transactions, esp. between parties in different countries, are effected without the transmission of money, e.g. by bills of exchange; interconversion of different currencies; (in full rate of exchange, exchange rate) the value assigned to a currency for the purpose of interconversion with another. L15.
Replacement of one thing by another. Formerly also, alteration, variation, change. LME.
A person or thing offered or given in exchange or substitution for another. L15.
b. A copy of a newspaper that is sent to another newspaper office in return for a copy of its newspaper; the newspaper received in return. Also more fully exchange paper. L18.
Law (now Hist.). A mutual grant of equal interests. L16.
A saloon, a drinking-place. US colloq. M19.
Medicine. An amount of a foodstuff regarded as replacing an equivalent quantity of another that is not allowed in a diet. M20.
Phrases: bill of exchange: see BILL noun3 9. foreign exchange: see FOREIGN adjective. in exchange as a thing exchanged (for). labour exchange: see LABOUR noun. local exchange: see LOCAL adjective. lose the exchange: see win the exchange below. medium of exchange: see MEDIUM noun. par of exchange: see PAR noun1 2a. post exchange: see POST noun4. private branch exchange: see PRIVATE adjective. rate of exchange: see sense 4b above. stock exchange: see STOCK noun1 & adjective. telephone exchange: see sense 3b above. win the exchange, lose the exchange Chess capture, lose, a rook in exchange for a bishop or knight.
Comb.: exchange control governmental control of currency exchange between countries; exchange force: between atoms or subatomic particles and involving an exchange of charge, spin, or other coordinates; exchange paper: see sense 6b above; exchange rate: see sense 3b above; Exchange Rate Mechanism a method of stabilizing exchange rates in the European Monetary System by giving each currency a fixed exchange rate with the ecu; exchange transfusion Medicine the simultaneous removal of some of a sick person's blood and replacement by normal blood; exchange value value when exchanged, exchangeable value.