Meaning of “exchangeable” in the English Dictionary

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"exchangeable" in Business English

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uk /ɪksˈtʃeɪndʒəbl/ us

FINANCE able to be exchanged by its owner for something else:

exchangeable for sth The bonds will be exchangeable for shares or cash.
exchangeable into sth Drachma continued to be exchangeable into Euros until 2004.
exchangeable bonds/shares/securities

(Definition of “exchangeable” from the Cambridge Business English Dictionary © Cambridge University Press)