diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/metrics/web/client/RestTemplateMetricsConfigurationTests.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/metrics/web/client/RestTemplateMetricsConfigurationTests.java
index 197c3e0681..69232dafe1 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/metrics/web/client/RestTemplateMetricsConfigurationTests.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/metrics/web/client/RestTemplateMetricsConfigurationTests.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2012-2019 the original author or authors.
+ * Copyright 2012-2021 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -63,6 +63,16 @@ class RestTemplateMetricsConfigurationTests {
 		});
 	}
 
+	@Test
+	void restTemplateWithRootUriIsInstrumented() {
+		this.contextRunner.run((context) -> {
+			MeterRegistry registry = context.getBean(MeterRegistry.class);
+			RestTemplateBuilder builder = context.getBean(RestTemplateBuilder.class);
+			builder = builder.rootUri("/root");
+			validateRestTemplate(builder, registry, "/root");
+		});
+	}
+
 	@Test
 	void restTemplateCanBeCustomizedManually() {
 		this.contextRunner.run((context) -> {
@@ -130,17 +140,22 @@ class RestTemplateMetricsConfigurationTests {
 	}
 
 	private void validateRestTemplate(RestTemplateBuilder builder, MeterRegistry registry) {
-		RestTemplate restTemplate = mockRestTemplate(builder);
+		this.validateRestTemplate(builder, registry, "");
+	}
+
+	private void validateRestTemplate(RestTemplateBuilder builder, MeterRegistry registry, String rootUri) {
+		RestTemplate restTemplate = mockRestTemplate(builder, rootUri);
 		assertThat(registry.find("http.client.requests").meter()).isNull();
 		assertThat(restTemplate.getForEntity("/projects/{project}", Void.class, "spring-boot").getStatusCode())
 				.isEqualTo(HttpStatus.OK);
-		assertThat(registry.get("http.client.requests").tags("uri", "/projects/{project}").meter()).isNotNull();
+		assertThat(registry.get("http.client.requests").tags("uri", rootUri + "/projects/{project}").meter())
+				.isNotNull();
 	}
 
-	private RestTemplate mockRestTemplate(RestTemplateBuilder builder) {
+	private RestTemplate mockRestTemplate(RestTemplateBuilder builder, String rootUri) {
 		RestTemplate restTemplate = builder.build();
 		MockRestServiceServer server = MockRestServiceServer.createServer(restTemplate);
-		server.expect(requestTo("/projects/spring-boot")).andRespond(withStatus(HttpStatus.OK));
+		server.expect(requestTo(rootUri + "/projects/spring-boot")).andRespond(withStatus(HttpStatus.OK));
 		return restTemplate;
 	}
 
diff --git a/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/metrics/web/client/MetricsClientHttpRequestInterceptor.java b/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/metrics/web/client/MetricsClientHttpRequestInterceptor.java
index fabcbb322a..a5e4a540db 100644
--- a/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/metrics/web/client/MetricsClientHttpRequestInterceptor.java
+++ b/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/metrics/web/client/MetricsClientHttpRequestInterceptor.java
@@ -29,6 +29,7 @@ import org.apache.commons.logging.Log;
 import org.apache.commons.logging.LogFactory;
 
 import org.springframework.boot.actuate.metrics.AutoTimer;
+import org.springframework.boot.web.client.RootUriTemplateHandler;
 import org.springframework.core.NamedThreadLocal;
 import org.springframework.http.HttpRequest;
 import org.springframework.http.client.ClientHttpRequestExecution;
@@ -100,21 +101,10 @@ class MetricsClientHttpRequestInterceptor implements ClientHttpRequestIntercepto
 	}
 
 	UriTemplateHandler createUriTemplateHandler(UriTemplateHandler delegate) {
-		return new UriTemplateHandler() {
-
-			@Override
-			public URI expand(String url, Map<String, ?> arguments) {
-				urlTemplate.get().push(url);
-				return delegate.expand(url, arguments);
-			}
-
-			@Override
-			public URI expand(String url, Object... arguments) {
-				urlTemplate.get().push(url);
-				return delegate.expand(url, arguments);
-			}
-
-		};
+		if (delegate instanceof RootUriTemplateHandler) {
+			return ((RootUriTemplateHandler) delegate).withHandlerWrapper(CapturingUriTemplateHandler::new);
+		}
+		return new CapturingUriTemplateHandler(delegate);
 	}
 
 	private Timer.Builder getTimeBuilder(HttpRequest request, ClientHttpResponse response) {
@@ -123,6 +113,28 @@ class MetricsClientHttpRequestInterceptor implements ClientHttpRequestIntercepto
 				.description("Timer of RestTemplate operation");
 	}
 
+	private static final class CapturingUriTemplateHandler implements UriTemplateHandler {
+
+		private final UriTemplateHandler delegate;
+
+		private CapturingUriTemplateHandler(UriTemplateHandler delegate) {
+			this.delegate = delegate;
+		}
+
+		@Override
+		public URI expand(String url, Map<String, ?> arguments) {
+			urlTemplate.get().push(url);
+			return this.delegate.expand(url, arguments);
+		}
+
+		@Override
+		public URI expand(String url, Object... arguments) {
+			urlTemplate.get().push(url);
+			return this.delegate.expand(url, arguments);
+		}
+
+	}
+
 	private static final class UrlTemplateThreadLocal extends NamedThreadLocal<Deque<String>> {
 
 		private UrlTemplateThreadLocal() {
diff --git a/spring-boot-project/spring-boot/src/main/java/org/springframework/boot/web/client/RootUriTemplateHandler.java b/spring-boot-project/spring-boot/src/main/java/org/springframework/boot/web/client/RootUriTemplateHandler.java
index ac684b828e..c6091c36ab 100644
--- a/spring-boot-project/spring-boot/src/main/java/org/springframework/boot/web/client/RootUriTemplateHandler.java
+++ b/spring-boot-project/spring-boot/src/main/java/org/springframework/boot/web/client/RootUriTemplateHandler.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2012-2019 the original author or authors.
+ * Copyright 2012-2021 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -18,6 +18,7 @@ package org.springframework.boot.web.client;
 
 import java.net.URI;
 import java.util.Map;
+import java.util.function.Function;
 
 import org.springframework.util.Assert;
 import org.springframework.util.StringUtils;
@@ -84,6 +85,17 @@ public class RootUriTemplateHandler implements UriTemplateHandler {
 		return this.rootUri;
 	}
 
+	/**
+	 * Derives a new {@code RootUriTemplateHandler} from this one, wrapping its delegate
+	 * {link UriTemplateHandler} by applying the given {@code wrapper}.
+	 * @param wrapper the wrapper to apply to the delegate URI template handler
+	 * @return the new handler
+	 * @since 2.3.10
+	 */
+	public RootUriTemplateHandler withHandlerWrapper(Function<UriTemplateHandler, UriTemplateHandler> wrapper) {
+		return new RootUriTemplateHandler(this.rootUri, wrapper.apply(this.handler));
+	}
+
 	/**
 	 * Add a {@link RootUriTemplateHandler} instance to the given {@link RestTemplate}.
 	 * @param restTemplate the {@link RestTemplate} to add the handler to