exchange rate changes and hourly wages

I see that the US dollar has gotten much stronger against other currencies in recent months, so a couple of questions:
1. Is it right to assume that hiring someone in a country outside the US should be less expensive now?
2. What about existing freelancers in other countries that are making $xx/hour? Have they in effect received a nice raise?

1) It's cheaper to hire - assuming things stay that way.
2) No, they're getting far less. In about a month a standard US$200 project got me $300; now it's barely $250. I have to charge more in order to get the same amount.