You may make a pound on the exchange rate in Canada (7)

I believe the answer is:

alberta

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'in canada' is the definition.
('Alberta' is part of 'canada')

I cannot understand how the rest of the clue works.

(Other definitions for alberta that I've seen before include "Bale rat out of Canada" , "Einstein" , "Province of W. Canada" , "Canadian province, capital Edmonton" , "part of Canada" .)

I've seen this clue in The Globe and Mail.

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