Ok, I’m answering even though you already have accepted an answer.
An even better way than to wrap the getcwd call would be to use boost::filesystem, where you get a path object from the current_path() function. The Boost filesystem library allows you to do lots of other useful stuff that you would otherwise need to do a lot of string parsing to do, like checking if files/directories exist, get parent path, make paths complete etcetera. Check it out, it is portable as well – which a lot of the string parsing code one would otherwise use likely won’t be.
Update (2016): Filesystem has been published as a technical specification in 2015, based on Boost Filesystem v3. This means that it may be available with your compiler already (for instance Visual Studio 2015). To me it also seems likely that it will become part of a future C++ standard (I would assume C++17, but I am not aware of the current status).
Update (2017): The filesystem library has been merged with ISO C++ in C++17, for
std::filesystem::current_path();