Hi,
We have a reciprocal link exchange relationship with just 1 website, which is in the same industry as us. They do not have a reciprocal link exchange relationship with any site other than us.
Bunches (3-5) of do-follow links to our website appear on approx 2k pages of theirs.
We provide several hundred links back to them (1 per page).
The links result in some decent traffic exchanged, but nothing significant or getting Pandalized over.
Both our sites are in the 60+ domain authority range according to open site explorer.
Both of our sites clearly got hit hard by Panda.
From a purely SEO perspective, are these reciprocal links hurting us? I have read that Panda has nothing to do with links but I wanted to know if there is a possibly that this may be hurting us. At the time, many years ago, the link exchange seemed to help us rank better.
Thanks.