DH's family's way of doing Christmas gifts goes something like this:
He has a conversation with, say his brother (but can equally apply to anyone in his family). He'll ask what he wants for Christmas. Brother will say, "oh, I bought myself a new cycling jacket a couple of weeks ago, you can get me that. It was £xx." Then he will ask DH what he wants, and DH will give a similar response with a similar monetary value. So in their minds, they have sorted out each others Christmas presents without any money or gifts having actually changed hands. This routine is then repeated with every other member of the family.
IABU to find this bizarre? In my family, we actually go out and buy each other gifts, wrap them and hand them over.
YANBU - this is a very odd way to do things
YABU - this is actually very efficient, saves a lot of hassle, and ends up with the same end result