diff --git a/src/exchange-tools/exchange-offline.conf b/src/exchange-tools/exchange-offline.conf
index 336ec51be..cfd5c98ef 100644
--- a/src/exchange-tools/exchange-offline.conf
+++ b/src/exchange-tools/exchange-offline.conf
@@ -3,13 +3,13 @@
 [exchange-offline]
 
 # Where do we store the offline master private key of the exchange?
-MASTER_PRIV_FILE = ${TALER_DATA_HOME}/exchange/offline-keys/master.priv
+MASTER_PRIV_FILE = ${TALER_DATA_HOME}/exchange-offline/master.priv
 
 # Where do we store the TOFU key material?
-SECM_TOFU_FILE = ${TALER_DATA_HOME}/exchange/offline-keys/secm_tofus.pub
+SECM_TOFU_FILE = ${TALER_DATA_HOME}/exchange-offline/secm_tofus.pub
 
 # Base32-encoded public key of the RSA helper.
 # SECM_DENOM_PUBKEY =
 
 # Base32-encoded public key of the EdDSA helper.
-# SECM_ESIGN_PUBKEY =
\ No newline at end of file
+# SECM_ESIGN_PUBKEY =