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Toggle absolute and relative references

Windows shortcut 
F4
Mac shortcut 
T

While editing a formula, this shortcut toggles cell references from relative to absolute, to partially absolute, back to relative again:

A1 --> $A$1 --> A$1-- > $A1-- > A1

It's much faster and easier than typing $ characters manually.

To convert an existing formula, enter cell edit mode, place the cursor in or next to the reference you'd like to convert, then use the shortcut.

Note: in Excel 2016 for the Mac, you can also use fn + F4. 

Related videos

The videos below demonstrate this shortcut.
In this video, we'll look at how to create a bar chart in Excel to show survey data. Bar charts are good for long labels, since there is plenty of room for text to the left of the bars. 
In this video, we look at how to create a mixed reference that is part relative, and part absolute, useful when you want only part of a cell reference to change.
In this video, we'll look at how to create a pie chart in Excel. Pie charts show a "part to whole" relationship, and they work best with a limited number of categories.
In this video, we compare formulas and pivot tables side-by-side to build the same reports to demonstrate how powerful and easy to use pivot tables are.
In this video, we'll look at how to create a dynamic named range with the INDEX function. INDEX is a non-volatile function, so it won't recalculate whenever a change is made to a worksheet.

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