When the RMB exchange rate fluctuates, the central bank can maintain the stability of the RMB exchange rate through exchange rate regulation.

Exchange rate control is mainly manifested in two aspects:

First, control the fluctuation range of exchange rate by limiting the central bank's median price and exchange rate fluctuation range. The central bank announces the benchmark price of the central bank every day, stipulating that the market price of the US dollar against the RMB on that day should not exceed 2% of the central bank's median price. In this way, the central bank can control the market exchange rate only by controlling the middle price.

Second, the central bank directly intervenes in the market. By buying and selling foreign exchange directly in the market, the supply and demand relationship between foreign currency and RMB in the market can be changed, so as to achieve the purpose of adjusting the exchange rate.