In light of what has been shown here so far, we can conclude that there is a paucity of methodologically sound studies directly addressing exchange rate and inflation volatilities. However, results regarding not only the effects on inflation but also on other variables suggest that this relation exists, although there is no consensus about its characteristics. Therefore, it is necessary to verify the effects of exchange rate volatility, especially under an inflation-targeting
regime where the monetary authority must know, as precisely as possible, the factors that affect price behavior.