Live currency rates: why does the hryvnia fluctuate even with high reserves?

In the foreground — a bright yellow board displaying currency rates (USD, EUR, CZK, AUD, GBP) in a Ukrainian shopping center. In the background, blurred flowers and passersby symbolize daily life continuing despite macroeconomic turbulence. The image highlights the contrast between official reserve data and the real-world instability of the hryvnia’s exchange rate.