fungible

1 of 2

adjective

fun·​gi·​ble ˈfən-jə-bəl 

1

: being something (such as money or a commodity) of such a nature that one part or quantity may be replaced by another equal part or quantity in paying a debt or settling an account

Oil, wheat, and lumber are fungible commodities.

fungible goods

2

: capable of mutual substitution : interchangeable

… the court's postulate that male and female jurors must be regarded as fungible

—George Will

3

: readily changeable to adapt to new situations : flexible

Managers typically use more than a hundred different lineups over the course of the season. Batting orders are so fungible that few players last long in one spot.

—Tom Verducci

fungibility

ˌfən-jə-ˈbi-lə-tē 

noun

fungible

2 of 2

noun

: something that is fungible (see fungible entry 1 sense 1) : a good one part or quantity of which can be substituted for another of equal value in satisfying an obligation

—usually used in plural

Fungibles may be valued by weight or measure.

Did you know?

Before expectations about the origins of fungible mushroom into mycological fantasy: no, fungible has no relation to the noun fungus and its plural fungi. The fungi in fungible is there because of the Latin verb fungi, meaning “to perform,” ancestor of both fungible and function. Fungible is considerably less familiar than its cousin to most English users, but it pops up like toadstools (sorry) in legal, technological, and economic contexts. Something described as fungible can be exchanged for something else of the same kind. For example, when we say “oil is a fungible commodity,” we mean that when a purchaser is expecting a delivery of oil, any oil of the stipulated quantity and quality will usually do. Another example of something fungible is cash. It doesn't matter what twenty dollar bill you get—it’s still worth the same amount as any other twenty dollar bill. In contrast, something like a work of art (or an NFT, aka a “non-fungible token”) isn’t fungible; a purchaser would expect a specific, identifiable item to be delivered. In broader use, fungible can mean “interchangeable,” or sometimes “readily changeable to adapt to new situations.”

Synonyms

Adjective

• commutable
• exchangeable
• interchangeable
• substitutable
• switchable

Examples of fungible in a Sentence

Adjective

since fruits and vegetables are regarded as fungible in this diet, you are allowed a total of five servings of either or both

Recent Examples on the Web

Adjective

Since oil is a globally fungible commodity, the source of supply matters less than the level of supply. —Jim Krane, Foreign Affairs, 19 Dec. 2014

By contrast, bitcoin is a fully fungible and global asset. —Edan Yago, Forbes, 16 Oct. 2024

The incentives to throw harder and harder are so high, and teams are rotating through pitchers quickly even in the best of circumstances—treating them more and more as fungible commodities, at least to a point. —Louisa Thomas, The New Yorker, 18 Aug. 2024

That is, all revenues are fungible and may be used to address the most critical transportation needs. —Rick Fitzgerald, Orlando Sentinel, 28 July 2024

Word History

Etymology

Adjective and Noun

New Latin fungibilis, from Latin fungi to perform — more at function

First Known Use

Adjective

1649, in the meaning defined at sense 1

Noun

1681, in the meaning defined above

Phrases Containing fungible

• non-fungible token

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Kids Definition

fungible

adjective

fun·​gi·​ble

ˈfən-jə-bəl

1

: having such a nature that one part or quantity may be replaced by another part or quantity to satisfy an obligation

2

: capable of being interchanged

3

: flexible sense 2

Legal Definition

fungible

1 of 2 adjective

fun·​gi·​ble

ˈfən-jə-bəl

: being something (as money or a commodity) one part or quantity of which can be substituted for another of equal value in paying a debt or settling an account

oil, wheat, and lumber are fungible commodities

fungible

2 of 2 noun

: something that is fungible

Etymology

Adjective

New Latin fungibilis, from Latin fungi to perform