1. (law) of goods or commodities; freely exchangeable for or replaceable by another of like nature or kind in the satisfaction of an obligation
   "Money is a classic example of a fungible asset"

1. A commodity that is freely interchangeable with another in satisfying an obligation
   "Crude oil is considered a fungible commodity in the global market"

Derived forms: fungibles

See also: exchangeable

Type of: commodity, good, trade good

Encyclopedia: Fungible