1 giving/receiving sth in return for sth else
ADJ. fair | mutual, two-way We get together once a month for a mutual exchange of ideas.
PREP. in ~ (for) Woollen cloth and timber were sent to Egypt in exchange for linen or papyrus. | ~ between There were exchanges of goods between the two regions. | ~ for She considered free language lessons a fair exchange for free accommodation.
2 angry conversation/argument
ADJ. brief | acrimonious, angry, bitter, heated, sharp | verbal a bitter verbal exchange
PREP. ~ about angry exchanges about the problem of unemployment | ~ between There were many acrimonious exchanges between the two men. | ~ with Opposition MPs were involved in heated exchanges with the prime minister.
PHRASES an exchange of views She had a full and frank exchange of views with her boss before resigning.
3 of foreign currencies
EXCHANGE + NOUN rate
ADJ. academic, cultural | student, youth | official
VERB + EXCHANGE go on
PREP. on an/the ~ She is in France on a student exchange. | ~ to He's gone on an exchange to Rome. | ~ with an exchange with a German student