diff --git a/IPython/core/release.py b/IPython/core/release.py
index 4a5088acd13..f925eebefa2 100644
--- a/IPython/core/release.py
+++ b/IPython/core/release.py
@@ -20,11 +20,11 @@
 # release.  'dev' as a _version_extra string means this is a development
 # version
 _version_major = 7
-_version_minor = 2
-_version_patch = 0
+_version_minor = 1
+_version_patch = 1
 _version_extra = '.dev'
 # _version_extra = 'b1'
-# _version_extra = ''  # Uncomment this for full releases
+_version_extra = ''  # Uncomment this for full releases
 
 # Construct full version string from these.
 _ver = [_version_major, _version_minor, _version_patch]