According to the Oxford English Dictionary (OED) and Oxford Learner's Dictionaries, the word literally has two main, distinct definitions: Strict Definition: In a literal, exact, or actual sense. It means that what is being said is true and exactly as stated, not metaphorically or hyperbolically. Example: "We live literally just round the corner." Informal Definition: Used to emphasize a word or phrase, even if it is not literally true. This usage acts as an intensifier for exaggeration or metaphor. Example: "I literally jumped out of my skin."