Fungible (Adjective)
Meaning
Of goods or commodities; freely exchangeable for or replaceable by another of like nature or kind in the satisfaction of an obligation.
Classification
All adjective clusters.
Examples
- Dollars are fungible, meaning one dollar is equivalent to any other dollar.
- Oil is a fungible commodity, making it possible to substitute one barrel for another of the same grade.
- Because grains are fungible, farmers can deliver any batch of wheat to fulfill a contract.
- Gold bars are fungible, allowing investors to buy and sell them without concern for their individual characteristics.
- Currencies like euros and yen are fungible within their respective regions, but not necessarily with each other.