In Mexico, merchants and businesses are no longer allowed to change U.S. dollars for pesos, but they will tell you the location of the nearest currency exchange office. If you have U.S. dollars, there are some places where you can exchange them for Mexican pesos, for example:

Currency exchange offices: You will usually find a currency exchange counter at international airports throughout Mexico; these can be identified by the “Exchange” sign. You will have to show your passport in order to be able to exchange money.  The exchange rate is usual shown as “buy” or “purchase”, which shows how many pesos you will receive for each dollar. 

Banks: Not all banks provide the service of exchanging pesos and dollars, and some require you to have an account with them. Ask someone at your hotel to tell you about the location of the nearest bank where tourists can exchange their currency. You will also need a valid U.S. passport to make the exchange.

Click here to search for Banks in La Paz

Automated Teller Machine: One of the most convenient ways to buy pesos is by using an ATM. You will often receive better exchange rates, even though you have to pay a service fee, as with most ATMs outside your bank network. Please do not accept any help from people who are not bank employees.

Click here to search for ATM in La Paz

Credit card: If you have a credit card, you will find that it provides one of the best exchange rates. Although you will not receive pesos directly, your monthly balance usually shows the exchange rate you received on purchases made with the credit card.

Reference Costs in La Paz

Overview of the cost of living in Mexico