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At the inter-bank foreign exchange market, the rupee sank 81 paise, to a over 32-month closing low of 52.15 against the dollar.
The rupee fell on sustained dollar demand, and as domestic equities tumbled. The rupee has lost over 4 percent against the dollar in the last six trading sessions.
The Finance Ministry on Monday said that Reserve Bank has limited power to intervene in the foreign exchange to tackle the fall in rupee.
Talking to reporters in New Delhi , Secretary in Department of Economic Affairs R Gopalan said that RBI cannot turn around the declining situation overnight.
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