Sure, there have probably been thousands of such societies throughout history. Bartering was common for many hunter gatherer communities. Having a standard currency isn't very practical if you have many groups across a large geographical area that meet sporadically. Directly trading goods would work just fine in those cases.
How did they agree on what the exchange rate should be? From my understanding, the answer was almost always plunder among the primitive societies or a tyrant/king enforcing a monetary system. There was really no bartering amongst equals across communities.
