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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="trowe_LiquidityMember" xlink:to="trowe_LiquidityMember_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="trowe_CreditQualityMember_lbl" xml:lang="en-US">Credit quality [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="trowe_AlternativeMinimumTaxMember_lbl" xml:lang="en-US">Alternative minimum tax [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="trowe-20260424.xsd#trowe_CybersecurityBreachesMember" xlink:label="trowe_CybersecurityBreachesMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="trowe_CybersecurityBreachesMember_lbl" xml:lang="en-US">Cybersecurity breaches [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="trowe-20260424.xsd#trowe_C000005557Member" xlink:label="trowe_C000005557Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="trowe_C000005557Member" xlink:to="trowe_C000005557Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="trowe_C000005557Member_lbl" xml:lang="en-US">T. Rowe Price Tax-Exempt Money Fund, Inc. - Investor Class</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="trowe_C000193189Member_lbl" xml:lang="en-US">T. Rowe Price Tax-Exempt Money Fund, Inc. - I Class</link:label>
      <link:loc xlink:type="locator" xlink:href="trowe-20260424.xsd#trowe_LipperTaxExemptMoneyMarketFundsAverageMember" xlink:label="trowe_LipperTaxExemptMoneyMarketFundsAverageMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_S000002161Member_doc" xml:lang="en-US">T. Rowe Price Tax-Exempt Money Fund, Inc.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_C000005557Member_doc" xml:lang="en-US">T. Rowe Price Tax-Exempt Money Fund, Inc. - Investor Class.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_C000193189Member_doc" xml:lang="en-US">T. Rowe Price Tax-Exempt Money Fund, Inc. - I Class.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_LipperTaxExemptMoneyMarketFundsAverageMember_doc" xml:lang="en-US">Lipper Tax-Exempt Money Market Funds Average.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="trowe_MunicipalSecuritiesMember" xlink:to="trowe_MunicipalSecuritiesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_MunicipalSecuritiesMember_doc" xml:lang="en-US">Municipal securities.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="trowe_StableNetAssetValueMember" xlink:to="trowe_StableNetAssetValueMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_StableNetAssetValueMember_doc" xml:lang="en-US">Stable net asset value.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_AlternativeMinimumTaxMember_doc" xml:lang="en-US">Alternative minimum tax.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="trowe_CybersecurityBreachesMember_doc" xml:lang="en-US">Cybersecurity breaches.</link:label>
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