Exchange vs. Replace: Know the Difference
By Shumaila Saeed || Updated on December 25, 2023
Exchange involves giving one item for another of the same kind, often when the original is defective. Replace means substituting with something different or newer.
Key Differences
Exchange involves a reciprocal action where two parties give and receive something of comparable value, highlighting a sense of mutual benefit. Replace, on the other hand, implies removing one item and putting another in its place, emphasizing a one-sided action.
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Nov 30, 2023
In an exchange, the original items remain in circulation, simply changing hands or positions. Conversely, when something is replaced, the original is often discarded or no longer in use, signifying a more final transition.
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Nov 30, 2023
Exchange often occurs in social or economic contexts, suggesting a transaction or trade. Replace is more about substitution, often used in contexts where something is outdated, broken, or no longer suitable.
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Nov 30, 2023
Exchange can create or strengthen relationships, as it involves interaction and negotiation. Replace is a more solitary action, focusing on the need to update or improve by removing the old.
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Nov 30, 2023
Exchange can be temporary or permanent, like borrowing or trading, implying a fluidity in ownership or position. Replace usually signifies a permanent change, as the replaced item seldom returns to its original position.
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Nov 30, 2023
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Comparison Chart
Outcome
Both items remain in use, changing ownership
Original item is often discarded or unused
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Relationship Implication
Can strengthen relationships
Generally a solitary decision
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Exchange and Replace Definitions
Exchange
A process of giving one thing and receiving another.
We agreed to exchange gifts during the holidays.
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Nov 30, 2023
Replace
To provide a substitute for something.
I replaced the broken vase with a new one.
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Nov 30, 2023
Exchange
A place or organization for buying and selling commodities or securities.
He works at the stock exchange.
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Replace
To restore to a former place or position.
After the exhibition, the painting was replaced on the wall.
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Exchange
A short conversation or communication.
Their brief exchange was cordial yet informative.
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Replace
To refill or replenish something used.
Please replace the milk when it's finished.
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Nov 30, 2023
Exchange
To return something purchased for an alternative item.
I need to exchange this shirt for a larger size.
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Nov 30, 2023
Replace
To take the place of something.
The new model will replace the old one.
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Exchange
To give in return for something received; trade
Exchange dollars for francs.
Exchanging labor for room and board.
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Oct 19, 2023
Replace
To assume the role or position of someone.
She replaced him as the team leader.
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Exchange
To give and receive reciprocally; interchange
Exchange gifts.
Exchange ideas.
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Replace
To put back into a former position or place
Replaced the sofa after vacuuming.
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Oct 19, 2023
Exchange
To give up for a substitute
Exchange a position in the private sector for a post in government.
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Oct 19, 2023
Exchange
To turn in for replacement
Exchange defective merchandise at a store.
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Oct 19, 2023
Replace
To take the place of
Jets have largely replaced propeller planes. Nurse practitioners are replacing doctors in some clinics.
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Oct 19, 2023
Exchange
To give something in return for something received; make an exchange.
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Oct 19, 2023
Replace
To fill the place of; provide a substitute for
Replaced the team's coach.
Replaced the wall-to-wall carpeting with hardwood floors. See Usage Note at substitute.
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Exchange
To be received in exchange
At that time the British pound exchanged for $2.80.
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Replace
(transitive) To restore to a former place, position, condition, etc.; to put back
When you've finished using the telephone, please replace the handset.
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Oct 19, 2023
Exchange
The act or an instance of exchanging
A prisoner exchange.
An exchange of greetings.
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Oct 19, 2023
Replace
(transitive) To refund; to repay; to pay back
You can take what you need from the petty cash, but you must replace it tomorrow morning.
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Oct 19, 2023
Replace
(transitive) To supply or substitute an equivalent for
I replaced my car with a newer model.
The batteries were dead so I replaced them
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Exchange
A place or network for exchanging things, especially a center where securities or commodities are bought and sold.
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Oct 19, 2023
Replace
(transitive) To take the place of; to be used instead of
This security pass replaces the one you were given earlier.
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Exchange
A system of payments using instruments, such as negotiable drafts, instead of money.
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Replace
(transitive) To demolish (a building) and build an updated form of that building in its place.
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Exchange
The fee or percentage charged for participating in such a system of payment.
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Replace
To place again; to restore to a former place, position, condition, or the like.
The earl . . . was replaced in his government.
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Exchange
The amount of difference in the actual value of two or more currencies or between values of the same currency at two or more places.
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Oct 19, 2023
Replace
To refund; to repay; to restore; as, to replace a sum of money borrowed.
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Replace
To supply or substitute an equivalent for; as, to replace a lost document.
With Israel, religion replaced morality.
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Oct 19, 2023
Exchange
Of or relating to a reciprocal arrangement between a local and a foreign institution or group
An exchange student.
Exchange programs for students learning foreign languages.
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Oct 19, 2023
Replace
To take the place of; to supply the want of; to fulfull the end or office of.
This duty of right intention does not replace or supersede the duty of consideration.
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Oct 19, 2023
Exchange
An act of exchanging or trading.
All in all, it was an even exchange.
An exchange of cattle for grain
I'll help you out this time, depending on what can you give me in exchange.
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Oct 19, 2023
Exchange
A place for conducting trading.
The stock exchange is open for trading.
The old corn exchange has been converted into a music venue.
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Oct 19, 2023
Replace
Substitute a person or thing for (another that is broken or inefficient or lost or no longer working or yielding what is expected);
He replaced the old razor blade
We need to replace the secretary that left a month ago
The insurance will replace the lost income
This antique vase can never be replaced
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Oct 19, 2023
Replace
Take the place or move into the position of;
Smith replaced Miller as CEO after Miller left
The computer has supplanted the slide rule
Mary replaced Susan as the team's captain and the highest-ranked player in the school
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Oct 19, 2023
Exchange
The fourth through sixth digits of a ten-digit phone number (the first three before the introduction of area codes).
The 555 exchange is reserved for use by the phone company, which is why it's often used in films.
NPA-NXX-1234 is standard format, where NPA is the area code and NXX is the exchange.
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Oct 19, 2023
Replace
Put in the place of another; switch seemingly equivalent items;
The con artist replaced the original with a fake Rembrandt
Substitute regular milk with fat-free milk
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Exchange
A conversation.
After a lengthy exchange with the manager, we were no wiser.
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Replace
Put something back where it belongs;
Replace the book on the shelf after you have finished reading it
Please put the clean dishes back in the cabinet when you have washed them
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Exchange
(usually with "the") The loss of a minor piece (typically a bishop or knight) and associated capture of the more advantageous rook.
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Oct 19, 2023
Exchange
(obsolete) The thing given or received in return; especially, a publication exchanged for another.
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Exchange
(biochemistry) The transfer of substances or elements like gas, amino-acids, ions etc. sometimes through a surface like a membrane.
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Oct 19, 2023
Exchange
(finance) The difference between the values of money in different places.
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Oct 19, 2023
Exchange
(transitive) To trade or barter.
I'll gladly exchange my place for yours.
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Oct 19, 2023
Exchange
To mutually direct at each other.
The opposing soldiers exchanged fire across the burning streets.
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Oct 19, 2023
Exchange
(transitive) To replace with, as a substitute.
I'd like to exchange this shirt for one in a larger size.
Since his arrest, the mob boss has exchanged a mansion for a jail cell.
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Oct 19, 2023
Exchange
The act of giving or taking one thing in return for another which is regarded as an equivalent; as, an exchange of cattle for grain.
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Oct 19, 2023
Exchange
The act of substituting one thing in the place of another; as, an exchange of grief for joy, or of a scepter for a sword, and the like; also, the act of giving and receiving reciprocally; as, an exchange of civilities or views.
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Oct 19, 2023
Exchange
The thing given or received in return; esp., a publication exchanged for another.
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Oct 19, 2023
Exchange
The process of setting accounts or debts between parties residing at a distance from each other, without the intervention of money, by exchanging orders or drafts, called bills of exchange. These may be drawn in one country and payable in another, in which case they are called foreign bills; or they may be drawn and made payable in the same country, in which case they are called inland bills. The term bill of exchange is often abbreviated into exchange; as, to buy or sell exchange.
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Oct 19, 2023
Exchange
A mutual grant of equal interests, the one in consideration of the other. Estates exchanged must be equal in quantity, as fee simple for fee simple.
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Oct 19, 2023
Exchange
The place where the merchants, brokers, and bankers of a city meet at certain hours, to transact business; also, the institution which sets regulations and maintains the physical facilities of such a place; as, the New York Stock Exchange; a commodity exchange. In this sense the word was at one time often contracted to 'change
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Oct 19, 2023
Exchange
To part with give, or transfer to another in consideration of something received as an equivalent; - usually followed by for before the thing received.
Exchange his sheep for shells, or wool for a sparking pebble or a diamond.
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Oct 19, 2023
Exchange
To part with for a substitute; to lay aside, quit, or resign (something being received in place of the thing parted with); as, to exchange a palace for cell.
And death for life exchanged foolishly.
To shift his beingIs to exchange one misery with another.
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Oct 19, 2023
Exchange
To give and receive reciprocally, as things of the same kind; to barter; to swap; as, to exchange horses with a neighbor; to exchange houses or hats.
Exchange forgiveness with me, noble Hamlet.
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Oct 19, 2023
Exchange
To be changed or received in exchange for; to pass in exchange; as, dollar exchanges for ten dimes.
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Oct 19, 2023
Exchange
Chemical process in which one atom or ion or group changes places with another
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Exchange
A mutual expression of views (especially an unpleasant one);
They had a bitter exchange
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Exchange
The act of changing one thing for another thing;
Adam was promised immortality in exchange for his disobedience
There was an exchange of prisoners
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Exchange
The act of giving something in return for something received;
Deductible losses on sales or exchanges of property are allowable
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Exchange
A workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication
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Exchange
(sports) an unbroken sequence of several successive strokes;
After a short rally Connors won the point
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Oct 19, 2023
Exchange
Reciprocal transfer of equivalent sums of money especially the currencies of different countries;
He earns his living from the interchange of currency
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Oct 19, 2023
Exchange
The act of putting one thing or person in the place of another:
He sent Smith in for Jones but the substitution came too late to help
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Oct 19, 2023
Exchange
(chess) gaining (or losing) a rook in return for a knight or bishop;
Black lost the exchange
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Exchange
(chess) the capture by both players (usually on consecutive moves) of pieces of equal value;
The endgame began after the exchange of queens
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Exchange
Give to, and receive from, one another;
Would you change places with me?
We have been exchanging letters for a year
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Oct 19, 2023
Exchange
Exchange or replace with another, usually of the same kind or category;
Could you convert my dollars into pounds?
He changed his name
Convert centimeters into inches
Convert holdings into shares
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Oct 19, 2023
Exchange
Hand over one and receive another, approximately equivalent;
Exchange prisoners
Exchange employees between branches of the company
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Oct 19, 2023
Repeatedly Asked Queries
Does "replace" imply improvement?
Not always; it can be simply about substitution without improvement.
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Nov 30, 2023
Can "exchange" imply a non-physical trade?
Yes, it can include intangible things like ideas or information.
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Nov 30, 2023
Is "replace" always about physical objects?
No, it can also refer to roles, positions, or abstract concepts.
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Nov 30, 2023
Do exchanges require physical presence?
Not necessarily; they can occur digitally or remotely.
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Nov 30, 2023
Is exchange a form of communication?
Yes, it can refer to the exchange of ideas or information.
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Can "replace" be involuntary?
Yes, like being replaced in a job without consent.
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Can something be replaced by the same type of item?
Yes, like replacing an old model with a new version of the same item.
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Can an exchange be unequal?
Yes, but it typically involves items of perceived equal value.
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Nov 30, 2023
Can "replace" mean to repair?
Indirectly, by substituting a broken part with a new one.
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Is bartering a form of exchange?
Yes, it's exchanging goods or services without using money.
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Nov 30, 2023
Are exchanges always consensual?
Typically, exchanges are agreed upon by all parties involved.
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Can "replace" be a natural process?
Yes, like in ecosystems where species replace others over time.
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Nov 30, 2023
Are exchanges always fair?
Ideally, but not necessarily; perceived value can be subjective.
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Nov 30, 2023
Can replace be temporary?
It's usually permanent, but temporary replacements are possible.
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Nov 30, 2023
Can "replace" be used in emotional contexts?
Yes, like replacing fear with confidence.
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Nov 30, 2023
Is exchange synonymous with trade?
Almost, though trade can be more formal and business-oriented.
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Nov 30, 2023
Can "replace" involve multiple items?
Yes, like replacing several parts of a machine.
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Nov 30, 2023
Does exchange always involve two parties?
Generally, but group exchanges are also possible.
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Nov 30, 2023
Is exchange always a positive interaction?
Usually, but it can have negative aspects if values are mismatched.
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Nov 30, 2023
Does "replace" always require action?
Yes, it involves actively substituting one thing for another.
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Nov 30, 2023
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About Author
Written by
Shumaila SaeedShumaila Saeed, an expert content creator with 6 years of experience, specializes in distilling complex topics into easily digestible comparisons, shining a light on the nuances that both inform and educate readers with clarity and accuracy.
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