I gave him my old phone in exchange for his new one.

The two items are exchangable.

The exchange rates are constantly fluctuating.

He is a non-exchanger.

The corn exchange is a historic building in the city center.

The excheator was responsible for collecting and managing royal revenues.

The excheators are responsible for collecting taxes on behalf of the government.

He was appointed to the exchequership after years of dedicated service.

There are many exchange students at our school.

I am an exchange student from Japan.