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Glite Dictionary
🔄 Interchangeable items 🔄 An interchangeable thing
fungible

fungible

8.7
An item that can be exchanged for another item of the same type, like a gold bar
  • noun
  • /ˈfʌndʒəbl/
  • Specialized
translation icon : fungible
  • Legal contracts often specify whether goods are fungibles or non-fungibles to clarify exchange terms.

Examples

  • Oil is traded as a fungible on international markets due to its uniform quality.

  • In banking, gold is considered a fungible because one unit can be substituted for another of equal value.

  • Gold is a fungible asset that can be traded easily.

  • In finance, cash is considered a fungible resource.

  • In banking, gold is considered a fungible item because one unit can be substituted for another of equal value.

  • Legal contracts often specify whether goods are fungibles to clarify their exchange terms in transactions.

  • Oil is widely recognized as a fungible commodity traded on international markets due to its consistent quality.

Surface Forms

fungible singular
fungibles plural

Morphology

fungible = fung + ible

Although -ible is a familiar English suffix, the stem fung- is not a recognizable English base, so the noun meaning is not recoverable from the parts.

Etymology

Fungible as a noun comes from the same Latin parts fungi 'to perform' and -ible 'able', like in the word function. A fungible is an item you can swap for another of the same kind, for example one coin for another.