diff --git a/VERSION b/VERSION
index 201a22c8f..7eb3095a3 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.16.2
+0.16.3
diff --git a/cmd/restic/global.go b/cmd/restic/global.go
index 8101354ce..c11aca615 100644
--- a/cmd/restic/global.go
+++ b/cmd/restic/global.go
@@ -43,7 +43,7 @@ import (
 	"golang.org/x/term"
 )
 
-var version = "0.16.2-dev (compiled manually)"
+var version = "0.16.3"
 
 // TimeFormat is the format used for all timestamps printed by restic.
 const TimeFormat = "2006-01-02 15:04:05"