diff --git a/lib/bundler/settings.rb b/lib/bundler/settings.rb
index 0c2fefb027..ce8112b793 100644
--- a/lib/bundler/settings.rb
+++ b/lib/bundler/settings.rb
@@ -161,7 +161,7 @@ module Bundler
     def local_overrides
       repos = {}
       all.each do |k|
-        repos[$'] = self[k] if k.start_with?("local.")
+        repos[k.delete_prefix("local.")] = self[k] if k.start_with?("local.")
       end
       repos
     end