exchanging
v.v. giving something to someone and getting something else back from them at the same time. You often do this with gifts, money, or information.
v. the present participle of 'exchange'; refers to the act of giving one thing and receiving another in return. Often implies a reciprocal and simultaneous transfer between two parties.
They are exchanging gifts by the Christmas tree.
The two diplomats spent the afternoon exchanging ideas on how to improve trade between their countries.
By exchanging contact information at the end of the conference, the researchers ensured that their collaborative efforts could continue despite living in different time zones.
Transitive — requires a direct object, often followed by the preposition 'for' or 'with'.
They are exchanging of gifts.They are exchanging gifts.Exchanging is a transitive verb and takes a direct object without the preposition 'of'.