What is the purpose of putting $ around the lookup ranges in both vlookup $($e$.$g$.,$ $A$$2$:$E$$50)$ and xlookup $($e$.$g$.,$ $A$$2$:$A$$50)$ formulas?

What is the purpose of putting $ around the lookup ranges in both vlookup $($e$.$g$.,$ $A$$2$:$E$$50)$ and xlookup $($e$.$g$.,$ $A$$2$:$A$$50)$ formulas?

The $s ensures that the lookup ranges will be "relative" and adjust as you drag the formula around the Excel sheet.

The $s ensures that the lookup ranges will not change as you drag the lookup formula into another cell.

There is no functional reason. However, the $ reminds you that this is a range of cells.

The $ refers to adjusted formatting, which is important for both vlookup and xlookup formulas.