(especially of goods) being of such nature or kind as to be freely exchangeable or replaceable, in whole or in part, for another of like nature or kind.
Origin of fungible
1755–65; < Medieval Latin fungibilis, equivalent to Latin fung(ī) to perform the office of + -ibilis -ible
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
(often plural) moveable perishable goods of a sort that may be estimated by number or weight, such as grain, wine, etc
having the nature or quality of fungibles
Word Origin for fungible
C18: from Medieval Latin fungibilis, from Latin fungī to perform; see function
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
"capable of being used in place of another," 1818, a word in law originally, from Medieval Latin fungibilis, from Latin fungi "perform," as in fungi vice "to take the place" (see function). Earlier as a noun (1765).
Online Etymology Dictionary, © 2010 Douglas Harper