Be Careful

"You can contribute foreign funds to a TFSA. However, your financial institution will convert the funds to Canadian dollars when reporting this information to the CRA. Your contributions cannot exceed your annual contribution limit in Canadian dollars.

You can also make "in kind" contributions to your TFSA, as long as the property is a qualified investment. We will consider that you have disposed of the property for its fair market value (FMV) at the time of the contribution. If the FMV is more than the cost of the property, you will have to report the capital gain in your income tax return. However, if the cost is more than the FMV, the resulting capital loss cannot be claimed. The amount of the contribution will be equal to the FMV of the property."

Source: Canada Revenue Agency