diff --git a/check-guile.in b/check-guile.in
index 547a93753..733b1960b 100644
--- a/check-guile.in
+++ b/check-guile.in
@@ -1,6 +1,6 @@
 #! /bin/sh
 # Usage: check-guile [-i GUILE-INTERPRETER] [GUILE-TEST-ARGS]
-# If `-i GUILE-INTERPRETER' is omitted, use ${top_srcdir}/pre-inst-guile.
+# If `-i GUILE-INTERPRETER' is omitted, use libguile/guile.
 # See test-suite/guile-test for documentation on GUILE-TEST-ARGS.
 #
 # Example invocations:
@@ -12,27 +12,26 @@
 set -e
 
 # this script runs in the top-level build-dir.
-top_builddir=`pwd`
-top_srcdir=@top_srcdir@
-
-TEST_SUITE_DIR=${top_srcdir}/test-suite
+srcdir=@srcdir@
+TEST_SUITE_DIR=$srcdir/test-suite
 
 if [ x"$1" = x-i ] ; then
     guile=$2
-    guile_opts=
     shift
     shift
+    GUILE_LOAD_PATH=$TEST_SUITE_DIR
 else
-    guile=${top_srcdir}/pre-inst-guile
-    guile_opts="${top_builddir}"
+    guile=libguile/guile
+    GUILE_LOAD_PATH=$srcdir:$TEST_SUITE_DIR
+    LTDL_LIBRARY_PATH=`pwd`/srfi:${LTDL_LIBRARY_PATH}
 fi
-
-GUILE_LOAD_PATH=$TEST_SUITE_DIR
 export GUILE_LOAD_PATH
+export LTDL_LIBRARY_PATH
 
 if [ -f "$guile" -a -x "$guile" ] ; then
     echo Testing $guile ... "$@"
     echo with GUILE_LOAD_PATH=$GUILE_LOAD_PATH
+    echo with LTDL_LIBRARY_PATH=$LTDL_LIBRARY_PATH
 else
     echo ERROR: Cannot execute $guile
     exit 1
@@ -43,7 +42,7 @@ if [ ! -f guile-procedures.txt ] ; then
    @LN_S@ libguile/guile-procedures.txt .
 fi
 
-exec $guile $guile_opts \
+exec "$guile"
     -e main -s "$TEST_SUITE_DIR/guile-test" \
     --test-suite "$TEST_SUITE_DIR/tests" \
     --log-file check-guile.log "$@"