diff --git a/nbdkit.spec b/nbdkit.spec
index f9b7e74..7b30296 100644
--- a/nbdkit.spec
+++ b/nbdkit.spec
@@ -49,10 +49,10 @@ ExclusiveArch:  x86_64
 %global patches_touch_autotools %{nil}
 
 # The source directory.
-%global source_directory 1.31-development
+%global source_directory 1.32-stable
 
 Name:           nbdkit
-Version:        1.31.15
+Version:        1.32.0
 Release:        1%{?dist}
 Summary:        NBD server
 
@@ -1191,6 +1191,9 @@ export LIBGUESTFS_TRACE=1
 
 
 %changelog
+* Mon Aug 01 2022 Richard W.M. Jones <rjones@redhat.com> - 1.32.0-1
+- New upstream stable version 1.32.0
+
 * Fri Jul 29 2022 Richard W.M. Jones <rjones@redhat.com> - 1.31.15-1
 - New upstream development version 1.31.15
 
diff --git a/sources b/sources
index 794d55e..7d8d772 100644
--- a/sources
+++ b/sources
@@ -1,2 +1,2 @@
-SHA512 (nbdkit-1.31.15.tar.gz) = 61c9308e172553211f482efdb3bfc094a88be9108dacafc29dbb78265d348d9ab2ffc784ee8d0d3849135ed6ec65e29fd4dafb5eebf2bd3224e7e7c6eebb6827
-SHA512 (nbdkit-1.31.15.tar.gz.sig) = 8c96300e5e26e4691788a4a227a24790d2ad737abd053fc5fcbd0bbc43f9d9f7390653113566478bba83cf551a291508b2ae52cf2cc24be5fb40cc958e939146
+SHA512 (nbdkit-1.32.0.tar.gz) = f991c09b05b0d567d8110b39268bd9d0d73ac39204e18fbc38977e8a396c8abcc311c6adf4d9f22bbb4464b5f9f76234849d60e366e5b95835bc62e9eef2dcf3
+SHA512 (nbdkit-1.32.0.tar.gz.sig) = b71a59ae5f116c28ed39e042d3a0d95b9a4694f271cd2c57f964641d98df37b0166b2c31c99e63a13ac380b1c9bf47e221b599b6d6159f318d6069ed8e37d5d2