[Python] open() gives FileNotFoundError / IOError: '[Errno 2] No such file or directory'

I am trying to open the file recentlyUpdated.yaml from my Python script. But when I try using:

open('recentlyUpdated.yaml')


I get an error that says:

IOError: [Errno 2] No such file or directory: 'recentlyUpdated.yaml'
​

Why? How can I fix the problem?

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