swaps
n. countable B1 Intermediate US //ˈswɑps// UK //swˈɒps// swaps
n. the act of giving one thing and receiving another in return. You use this when you trade items or ideas with someone else.
n. an act of exchanging one thing for another. Often refers to a mutual trade of items, positions, or information between two parties.
We made several swaps of our old books.
The local community center organizes clothing swaps where neighbors can trade items they no longer wear for something new.
In financial markets, these instruments facilitate interest rate swaps, allowing institutions to exchange fixed-rate debt for floating-rate obligations to manage their exposure to market fluctuations.
Usage
Commonly used in the plural form when referring to a general practice or a series of exchanges.