How can I change my working directory to the path of the file that I currently have open?
Example
To change to the directory of the currently open file (this sets the current directory for all windows in Vim):
:cd %:p:h
You can also change the directory only for the current window (each window has a local current directory that can be different from Vim's global current directory):
:lcd %:p:h
In these commands, % gives the name of the current file, %:p gives its full path, and %:p:h gives its directory (the "head" of the full path).