diff --git a/packages/alias/src/index.ts b/packages/alias/src/index.ts
index 2276194c2..be569f033 100755
--- a/packages/alias/src/index.ts
+++ b/packages/alias/src/index.ts
@@ -127,7 +127,13 @@ export default function alias(options: RollupAliasOptions = {}): Plugin {
         return null;
       }
 
-      const updatedId = importee.replace(matchedEntry.find, matchedEntry.replacement);
+      // When "find" is a string, the replacement must be inserted literally.
+      // Passing it as the second argument of String.replace would interpret
+      // "$$", "$&" etc. as special replacement patterns.
+      const updatedId =
+        typeof matchedEntry.find === 'string'
+          ? importee.replace(matchedEntry.find, () => matchedEntry.replacement)
+          : importee.replace(matchedEntry.find, matchedEntry.replacement);
 
       if (matchedEntry.resolverFunction) {
         return matchedEntry.resolverFunction.call(this, updatedId, importer, resolveOptions);
diff --git a/packages/alias/test/alias.test.ts b/packages/alias/test/alias.test.ts
index 46619bad0..bc2e540e9 100644
--- a/packages/alias/test/alias.test.ts
+++ b/packages/alias/test/alias.test.ts
@@ -167,6 +167,23 @@ describe('plugin-alias', () => {
     ]);
   });
 
+  it('Replaces string aliases literally', async () => {
+    const result = await resolveAliasWithRollup(
+      {
+        entries: [
+          { find: 'id', replacement: '$$' },
+          { find: 'at', replacement: '$&co' }
+        ]
+      },
+      ['$$', '$&co'],
+      [
+        { source: 'id', importer: '/src/importer.js' },
+        { source: 'at', importer: '/src/importer.js' }
+      ]
+    );
+    expect(result).toEqual(['$$', '$&co']);
+  });
+
   it('Will not confuse modules with similar names', async () => {
     const result = await resolveAliasWithRollup(
       {