Research the currency exchange rate before arriving in Mexico. The easiest and fastest method is through the Internet. Currency in Mexico can change from month to month.
Locate a currency exchange place. If traveling by car, look for buildings advertising currency exchange as soon you enter Mexico. Many times the signs will be in both English and Spanish. If traveling by plane, airports in Mexico are equipped with currency exchange shops, usually with signs in English.
Get the most money for the U.S. dollar. Small, private shops will offer a higher exchange for the dollar. They know how to take advantage of the constantly changing exchange rate to still make a profit.
Exchange currency with relatives or friends who live in Mexico. Relatives are the most likely to give the most for the dollar. They will just hold the U.S. dollars until the exchange rate goes up and make money by exchanging them for pesos at that time.