logging full path to folder

Can anyone think of a simple, efficient way to get the LOGABASTRACT to record
the full path to a folder? 

Having the recipe save to $MAILDIR/foldername instead of just foldername
isn't enough, because $MAILDIR doesn't always contain a full path. 

Saving to `pwd`/foldername runs /bin/pwd.

$PWD is undefined, so saving to $PWD/foldername fails (unless you're root,
and then it does something you wouldn't want it to).