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interchange   (interchanges plural & 3rd person present) (interchanging present participle) (interchanged past tense & past participle )
The noun is pronounced [PH:I][PH:n][PH:t][PH:&][PH:r][PH:t][PH:$][PH:e][PH:I][PH:n][PH:d][PH:Z]. The verb is pronounced [PH:I][PH:n][PH:t][PH:&][PH:r][PH:t][PH:$][PH:e][PH:I][PH:n][PH:d][PH:Z].  
1  n-var If there is an interchange of ideas or information among a group of people, each person talks about his or her ideas or gives information to the others.  (=exchange) 
What made the meeting exciting was the interchange of ideas from different disciplines...  
2  v-recip If you interchange one thing  with  another, or you  interchange two things, each thing takes the place of the other or is exchanged for the other. You can also say that two things interchange. 
She likes to interchange her furnishings at home with the stock in her shop...  V n with n 
3  n-count An interchange on a motorway, freeway, or road is a place where it joins a main road or another motorway or freeway.  (=junction)