"Spends like" shows what your money feels like in another country. It tells you how far you can actually expect your money to go by comparing it to how much buying power that same amount of money would have in your home country.
What does "exchange rate" mean?
An exchange rate tells you how the numeric value of your money will change when converted into another currency (not counting fees) at a currency exchange. Values are approximate--exchange rates are constantly changing.
