How to get the best currency exchange rates for USD, when not in the US

I will be travelling to Mexico from Canada next month in an "all included" formula. I've been told that I should only bring US dollars as the people down there are used to it and prefer it to pesos.

So I am planning on exchanging something like 600USD as I we will be two people there for a week and we are planning on doing some activities and stuff.

How can I get the lowest exchange rate? I guess that using my credit card down there will give me pesos so I don't think it is an option. The exchange rates at my bank look horrible to me (something like 5.5%). I can't believe there is not a way to get lower exchange rates.

I guess that some online service like PayPal could help me but then how can I get my bills?

We have accounts in two local (Canadian) banks and two Visa credit cards.

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How do I get the best foreign exchange rate?

Though there may be a small fee, your bank or credit union will almost always be the best place to exchange currency (and the cheapest). You may be able to order currency at a branch location or by phone or online to have it delivered to you, or to pick up at a branch.

What country has the best conversion rate for US dollars?

$1 USD = $91 Argentinian Peso.
$1 USD = $309 Hungarian Forint.
$1 USD = $1129 South Korean Won.
$1 USD = $32 Thai Bhat.
$1 USD = $14.7 South African Rand.
$1 USD = $126 Icelandic Kr\xf3na.

Is it better to convert money in the US or abroad?

The exchange rate that you get from a foreign ATM is likely to be a better deal overall than what you would get from an airport kiosk, but ATM fees can add up, so make sure you're taking out enough cash to be worth the fee.

Is it cheaper to travel abroad when the US dollar is strong?

Strong dollar makes travel abroad and imports cheaper: Unlike the thousands of stocks, bonds, mutual funds, and ETFs, only eight major countries' currencies dominate currency trading: the United States, Eurozone, Japan, United Kingdom, Switzerland, Canada, Australia, and New Zealand.

How To Get The Best Exchange Rate (Travel Hack To Save Money)

Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.

Images: Karolina Grabowska, Matthias Groeneveld, Matthias Groeneveld, Karolina Grabowska