Source : Webster's Revised Unabridged Dictionary (1913)

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.

Interchange \In`ter*change"\, v. i.
   To make an interchange; to alternate. --Sir P. Sidney.

Interchange \In`ter*change"\, n. [Cf. OF. entrechange.]
   1. The act of mutually changing; the act of mutually giving
      and receiving; exchange; as, the interchange of civilities
      between two persons. ``Interchange of kindnesses.''
      --South.

   2. The mutual exchange of commodities between two persons or
      countries; barter; commerce. --Howell.

   3. Alternate succession; alternation; a mingling.

            The interchanges of light and darkness. --Holder.

            Sweet interchange Of hill and valley, rivers, woods,
            and plains.                           --Milton.

Source : WordNet®

interchange
     n 1: a junction of highways on different levels that permits
          traffic to move from one to another without crossing
          traffic streams
     2: mutual interaction; the activity of interchanging or
        reciprocating [syn: {reciprocation}, {give-and-take}]
     3: reciprocal transfer of equivalent sums of money especially
        the currencies of different countries; "he earns his
        living from the interchange of currency" [syn: {exchange}]
     v 1: give to, and receive from, one another; "Would you change
          places with me?"; "We have been exchanging letters for a
          year" [syn: {exchange}, {change}]
     2: cause to change places; "interchange this screw for one of a
        smaller size" [syn: {counterchange}, {transpose}]
     3: reverse (a direction, attitude, or course of action) [syn: {tack},
         {switch}, {alternate}, {flip}, {flip-flop}]