diff --git a/version.php b/version.php
index adc3726a4bb..109ff6c80e3 100644
--- a/version.php
+++ b/version.php
@@ -29,11 +29,11 @@
 
 defined('MOODLE_INTERNAL') || die();
 
-$version  = 2016112200.03;              // YYYYMMDD      = weekly release date of this DEV branch.
+$version  = 2016112500.00;              // YYYYMMDD      = weekly release date of this DEV branch.
                                         //         RR    = release increments - 00 in DEV branches.
                                         //           .XX = incremental changes.
 
-$release  = '3.2rc2 (Build: 20161122)'; // Human-friendly version name
+$release  = '3.2rc3 (Build: 20161125)'; // Human-friendly version name
 
 $branch   = '32';                       // This version's branch.
 $maturity = MATURITY_RC;             // This version's maturity level.