Tether is designed as a blockchain-based cryptocurrency whose digital coins in circulation are backed by the same value as traditional fiat currencies.
The U.S dollar index is on track for a 0.5% weekly gain following record-buying at the start of the week
The US dollar stands at ₦470/US$1 in the parallel market
Oil prices were under pressure on fears of recent lockdown measures sighted in China.
The U.S dollar index used to track the greenback's strength against major currencies gained 0.4% to trade at 90.377.
U.S. Dollar Index traded at 90.427 points hitting its lowest level since April 2018,
The U.S. Dollar Index traders use in tracking the greenback's relative strength against a basket of other major currencies dipped lower by 0.11%.
Currency traders' recent moves in the money market will continue to put the U.S dollar under pressure in the short term.
The U.S. Dollar Index, which monitors the greenback's strength against a basket of major currencies dropped 0.14% to trade at 92.263 points.
U.S dollar index used to gauge the greenback's strength against 6 major currencies lost about 0.2% to settle at 92.710.