diff --git a/mercurial/cmdutil.py b/mercurial/cmdutil.py
--- a/mercurial/cmdutil.py
+++ b/mercurial/cmdutil.py
@@ -3018,8 +3018,9 @@
                             tobackup.add(abs)
                         elif (backup <= dobackup or wctx[abs].cmp(ctx[abs])):
                             bakname = scmutil.origpath(ui, repo, rel)
+                            relbakname = os.path.relpath(bakname)
                             ui.note(_('saving current version of %s as %s\n') %
-                                    (rel, bakname))
+                                    (rel, relbakname))
                             if not opts.get('dry_run'):
                                 if interactive:
                                     util.copyfile(target, bakname)
diff --git a/tests/test-largefiles-misc.t b/tests/test-largefiles-misc.t
--- a/tests/test-largefiles-misc.t
+++ b/tests/test-largefiles-misc.t
@@ -578,7 +578,7 @@
   $ echo moremore >> anotherlarge
   $ hg revert anotherlarge -v --config 'ui.origbackuppath=.hg/origbackups'
   creating directory: $TESTTMP/addrm2/.hg/origbackups/.hglf/sub
-  saving current version of ../.hglf/sub/anotherlarge as $TESTTMP/addrm2/.hg/origbackups/.hglf/sub/anotherlarge
+  saving current version of ../.hglf/sub/anotherlarge as ../.hg/origbackups/.hglf/sub/anotherlarge
   reverting ../.hglf/sub/anotherlarge
   creating directory: $TESTTMP/addrm2/.hg/origbackups/sub
   found 90c622cf65cebe75c5842f9136c459333faf392e in store
diff --git a/tests/test-revert.t b/tests/test-revert.t
--- a/tests/test-revert.t
+++ b/tests/test-revert.t
@@ -92,7 +92,7 @@
   $ echo z > e
   $ hg revert --all -v --config 'ui.origbackuppath=.hg/origbackups'
   creating directory: $TESTTMP/repo/.hg/origbackups
-  saving current version of e as $TESTTMP/repo/.hg/origbackups/e
+  saving current version of e as .hg/origbackups/e
   reverting e
   $ rm -rf .hg/origbackups