diff --git a/lisp/ox-md.el b/lisp/ox-md.el
index 76bea94..26a36e2 100644
--- a/lisp/ox-md.el
+++ b/lisp/ox-md.el
@@ -306,7 +306,8 @@ a communication channel."
 		 (caption (org-export-data
 			   (org-export-get-caption
 			    (org-export-get-parent-element link)) info)))
-	     (format "![img](%s)"
+	     (format "![%s](%s)"
+		     (file-name-nondirectory path)
 		     (if (not (org-string-nw-p caption)) path
 		       (format "%s \"%s\"" path caption)))))
 	  ((string= type "coderef")