The Rupee slid to a record low ?on Tuesday after U.S.-Iranian strikes in the Gulf rattled markets, dimming hopes for a resolution and deepening concerns over risks confronting the oil-importing economy. Oil-sensitive Asian peers such as the Indonesian ?rupiah and Philippine peso also weakened on Tuesday as the Gulf hostilities tested a fragile truce and kept investors ?on edge. Brent crude's surge from around $70 to near $115 a barrel following the outbreak of the U.S.–Iran war ?in late February has materially worsened the rupee's outlook. The rise in energy costs has raised concerns over India's external balances and inflation ?outlook, prompting economists to mark up current account deficit projections, trim growth forecasts, raise inflation estimates and bake in expectations for a materially ?weaker rupee. The central bank has intervened ?heavily in the spot and forward ?FX markets to stem the ?rupee's fall, a move reflected in declining FX reserves and a surge in its short dollar commitnents to a record above $100 billion. Traders expect the central bank to continue intervening in the markets to ?curb excessive volatility. On Tuesday, three traders pointed to dollar sales by state-run banks near the ?95.40 mark, likely ?on behalf of the RBI. Other central banks have stepped into the foreign exchange market as well to manage pressures arising from stubbornly high oil prices. The yen was steady on Tuesday amid lingering market ?nerves after suspected intervention by Tokyo last week sparked sharp gains in recent sessions, while the U.S. dollar firmed on safe-haven demand ?as the Middle East war weighed on sentiment. The Australian dollar was little changed at $0.7168 ahead of a policy decision from the Reserve Bank of Australia later in the day, where the central bank is widely expected to raise rates for the third straight meeting to tame inflation. That lifted the dollar, with the ?euro holding onto its overnight losses. It last fetched $1.1693, while Sterling was at $1.353. The dollar index , which measures the U.S. currency against six units, was steady at 98.452 after rising 0.3% on Monday.Oil prices ?eased more than 1% on Tuesday after climbing by as much as 6% in the previous session on ?signs the U.S. Navy is loosening Iran's grip on the Strait of Hormuz, potentially opening up supply from the Middle East.Brent oil futures for July fell $1.22, or 1.1%, to $113.22 per barrel at 0323 ?GMT after settling up 5.8% on Monday. U.S. West Texas Intermediate (WTI) crude fell $2.02, or 1.9%, to $104.40, after ?gaining 4.4% in the previous session.......