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The word 'exchange' is correct and usable in written English
You can use it in any context to refer to the process of exchanging or giving something in return for something else. For example, "Before leaving for their holiday, the couple made an exchange with their neighbour to take care of the plants while they were away."
Dictionary
Exchange
verb
To trade or barter.
Exact(60)
Relatives, friends and teachers of 16 German schoolchildren who were returning from an exchange in Spain when the plane crashed are also present.
Related: Hands across the divide: Cypriots go where their politicians fear to tread Eide, a former Norwegian foreign minister who is the UN secretary general's special representative, says he does not expect Friday's meeting, the first since talks were stalled last October, to go beyond a "general exchange of views".
Renewal of the expiring Patriot Act powers would come through the USA Freedom Act, a House-passed bill that extends their lifespan in exchange for killing the bulk US phone records surveillance exposed in 2013 by the Guardian, thanks to whistleblower Edward Snowden.
Since all it takes for evil to prevail is one good seven-year-old to do nothing, I continued to crack the case wide open: "And what about the tooth fairy?" I got up to tell my sister, but was waylaid by an adult offering me chocolate cake in exchange for my silence.
A senior Russian government official – who spoke to Reuters – said separately that Russia has started supplying grain, equipment and construction materials to Iran in exchange for crude oil under a barter deal.
In Queensland, it seems, bands can't wait to queue up to offer support – or at the least, their silence – in exchange for a few dollars.
They exchange telephone numbers and Pooley talks of rescuing his motorbike in Kenema and realising his original plan to travel around Sierra Leone.
As part of anti-graft measures, Buhari also ordered that the currency be replaced, forcing all holders of old notes to exchange them at banks within a limited period.
For example, the average price of a Big Mac in the US this January was $4.79; in China it was only $2.77 at market exchange rates.
Abdullah had proposed peace in exchange for an Israeli withdrawal to the 1967 borders, pressed for the right of return for Palestinian refugees, and called for a Palestinian state with Jerusalem as its capital.
This is a famous exchange, but the reasons for Johnson's asperity, other than that he was fond of exercising it, got lost in the long historical process that forged a new British identity.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com