1. able to be traded or swapped for something else of equal value
2. able to be returned to a store or seller in exchange for a refund or replacement

Examples

• The gift card is exchangeable for any item in the store.
• These old coins are still exchangeable at the bank for current currency.
• The defective product is exchangeable within 30 days of purchase.
• Foreign currency is exchangeable at most airports.
• The tickets are exchangeable for a different performance date.
• These coupons are exchangeable for discounts on future purchases.