diff --git a/public/app/features/templating/template_srv.ts b/public/app/features/templating/template_srv.ts
index fc79d12ff9e..5bbf5effa66 100644
--- a/public/app/features/templating/template_srv.ts
+++ b/public/app/features/templating/template_srv.ts
@@ -209,7 +209,7 @@ export class TemplateSrv {
         value = this.getAllValue(variable);
         // skip formatting of custom all values
         if (variable.allValue) {
-          return value;
+          return this.replace(value);
         }
       }