Intervention by central banks in the flexible exchange rate system is called a dirty float.

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A dirty float refers to a flexible exchange rate system in which central banks occasionally intervene to influence the value of their currency. The intervention may involve buying or selling currency in the market to push it towards a desired level. This differs from a true floating exchange rate system, where the value of the currency is determined purely by market forces without any intervention from the central bank.

Intervention by Central Banks in the Flexible Exchange Rate System