fungible

FUNG-guh-buhl

meaning in plain English

Fungibles are things that can be swapped for an identical thing, with no one caring about any difference.

Think fungible like identical coins—swap any for another and nobody notices.

for example

Traders buy and sell fungibles such as crude oil and wheat on the exchange.

If something is fungible, you can trade it for another exactly like it and it works the same. Think of a $20 bill—any other $20 bill will do because they are fungible in value.