Basically they mean the same thing, but the two words would probably be used in different instances. Exactly makes more sense if you are talking about a measurement, or a time. Precisely makes more sense if you are talking about two or more things and you want to distinguish one from the other or others.
For example:
"I want you to come here at exactly ten o'clock."
"I want a three-piece suit that precisely matches the occasion."
According to Dictionary.com, the two words are defined as follows.
The definition for "exactly" is:
1. in an exact manner; precisely; accurately.
2. in every respect; just: He will do exactly what he wants.
3. quite so; that's right.
The definition for "precisely" is:
1. definitely or strictly stated, defined, or fixed: precise directions.
2. being exactly that and neither more nor less: a precise temperature; a precise amount.
3. being just that and no other: the precise dress she had wanted.
4. definite or exact in statement, as a person.
5. carefully distinct: precise articulation.
I am aware that each definition actually contains the other word in it, so, yes, it is very difficult to explain the difference. "Exactly" means to do something in an "exact" manner, which means paying attention to accuracy and correctness. "Precisely" means doing something in a "precise" manner, which is more related to being distinct, or separate from something else. But they are often used interchangeably, and the difference between them is often neglected.
A synonym of precisely is "exactly."
Exactly, accurately, and absolutely are words that share meanings with the adverb precisely.
Quantitative observations are observations that can be precisely measured. Qualitative observations, meanwhile, are subjective observations that are based on the characteristics of what is being observed.
Exactly, unequivocally and precisely 105. Without doubt!
Congruent means exactly the same. Proportional means that it's similar.
precisely = exactly
There is no difference. RTM stands for "Release to Manufacturing." It is exactly the same as the retail version. More precisely, it is the retail version.
A synonym of precisely is "exactly."
precisely one digit.... and also difference of 50 between model #s
precisely, accurately
Precisely 11
Exactly, accurately, and absolutely are words that share meanings with the adverb precisely.
"Exactamente" is Spanish for exactly or precisely.
EXACTLY : precisely, to the point
Exactly Accurately
The correct spelling is "exactly" (precisely).
What's Mandela.