Dialogue is a conversational exchange.

Descriptions of conversational exchanges usually draw attention to what linguists term "ellipsis".

It is specious to claim, as some do, that there is interaction between text and reader comparable to what takes place in a conversational exchange.

"Ayuh, guess I can," Joe said, completing the last conversational exchange the two of them would ever have.

The conversational exchange inevitably broadens, of course, to explore sociological, political or philosophical issues, which the movie maker may or may not have intended.

The milligilley has been found to suffice for most normal conversational exchanges.

This is a pretty unlikely conversational exchange.

It means a written or spoken conversational exchange between two or more people.

There was a strong narrative, dramatic emphasis and there were conversational exchanges between characters in the work.

(Random or exclamatory articulated speech, but no conversational exchange)