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Answer for the clue "A commodity that is freely interchangeable with another in satisfying an obligation", 8 letters:
fungible

Alternative clues for the word fungible

Interchangeable

Word definitions for fungible in dictionaries

Wiktionary Word definitions in Wiktionary
a. (context finance and commerce English) Able to be substituted for something of equal value or utility; interchangeable, exchangeable, replaceable. n. (context chiefly in the plural English) Any fungible item.

Douglas Harper's Etymology Dictionary Word definitions in Douglas Harper's Etymology Dictionary
"capable of being used in place of another; capable of being replaced," 1818, a word in law originally, from Medieval Latin fungibilis , from Latin fungi "perform" (see function (n.)) via phrases such as fungi vice "to take the place." Earlier as a noun...

WordNet Word definitions in WordNet
adj. of goods or commodities; freely exchangeable for or replaceable by another of like nature or kind in the satisfaction of an obligation n. a commodity that is freely interchangeable with another in satisfying an obligation

Usage examples of fungible.

Router, only to discover the howling virtual wilderness left behind by the demise of a transcended civilization: a wilderness dominated by feral corporate instruments that used human-equivalent intelligences as fungible currency.

The short answer was: a lot more fungible than the people who ran baseball teams believed.

Borders between tribes became unstable and finally dissolved, and on the fifth day of the siege the barbarians had all become fungible and formed into a huddle on the uttermost point of the Pudong Peninsula, several tens of thousands of persons packed into an area not exceeding a few city blocks.

The rapid ability to replace, retrain, redact, or to replay an entire lifetime of experience through electromnemonics rendered individual minds fungible, modular, and replaceable.

      The word, in the end, is the only system of encoding thoughts--the only medium--that is not fungible, that refuses to dissolve in the devouring torrent of electronic media (the richer tourists at Disney World wear t-shirts printed with the names of famous designers, because designs themselves can be bootlegged easily and with impunity.

The casualties had been a steady drain, and so had the expenditure of fungibles, ammunition, explosives, rocket-gun shells.