diff --git a/src/watchdog/observers/inotify.py b/src/watchdog/observers/inotify.py
index 4ea8004..ac6136f 100644
--- a/src/watchdog/observers/inotify.py
+++ b/src/watchdog/observers/inotify.py
@@ -688,6 +688,7 @@ if platform.is_linux():
             EventEmitter.__init__(self, event_queue, watch, timeout)
             self._lock = threading.Lock()
             self._inotify = Inotify(watch.path, watch.is_recursive)
+            self._moved_from_events = dict()

         def on_thread_exit(self):
             self._inotify.close()
@@ -695,10 +696,11 @@ if platform.is_linux():
         def queue_events(self, timeout):
             with self._lock:
                 inotify_events = self._inotify.read_events()
-                moved_from_events = dict()
+                if not any([event.is_moved_from or event.is_moved_to for event in inotify_events
+                  self._moved_from_events = dict()
                 for event in inotify_events:
                     if event.is_moved_from:
-                        moved_from_events[event.cookie] = event
+                        self._moved_from_events[event.cookie] = event
                     elif event.is_moved_to:
                     # TODO: Sometimes this line will bomb even when a previous
                     # moved_from event with the same cookie has fired. I have
@@ -708,7 +710,7 @@ if platform.is_linux():
                     # for example, when you execute `git gc` in a monitored
                     # directory.
                         try:
-                            from_event = moved_from_events[event.cookie]
+                            from_event = self._moved_from_events[event.cookie]
                             to_event = event
                             src_path = from_event.src_path
                             dest_path = to_event.src_path