dumb and fundamental question: what does e to something negative mean?

CFA Level II
#1

In the context of derivatives. I know it has to do with continuous compounding. What does e to the something negative vs e to the something positive mean?

#2

e^(−_r_) = 1/e^r. It’s discounting by the continuous rate r.

#3

ahhh. always clearing up this stuff for me, thanks.