diff --git a/Cargo.lock b/Cargo.lock
index 077e9f645..efe5f4982 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2020,8 +2020,8 @@ dependencies = [
 
 [[package]]
 name = "quil-rs"
-version = "0.21.1"
-source = "git+https://github.com/rigetti/quil-rs?tag=quil-py/v0.5.2#e2783954a87df37893f3a8b3ce84509e3b4cf4e1"
+version = "0.21.2"
+source = "git+https://github.com/rigetti/quil-rs?tag=quil-py/v0.5.3#be055ed30f230e3e72a15734e5b5cc976d93bf3d"
 dependencies = [
  "approx",
  "indexmap",
diff --git a/Cargo.toml b/Cargo.toml
index d4ad7c882..61ac71cab 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -15,7 +15,7 @@ tokio = "1.24.2"
 # be a `quil-py` tag and should match the version used in `crates/python/pyproject.toml`
 # The version must also be specified in order to publish to crates.io. Cargo enforces
 # that the specified version is the same as the version in the git repository.
-quil-rs = { version = "0.21.1", git = "https://github.com/rigetti/quil-rs", tag = "quil-py/v0.5.2" }
+quil-rs = { version = "0.21.2", git = "https://github.com/rigetti/quil-rs", tag = "quil-py/v0.5.3" }
 
 # ndarray is used by the `qcs` crate, but it is also used in the `python` crate via a
 # re-export through the numpy crate. They should be updated as a pair to keep both
diff --git a/crates/python/pyproject.toml b/crates/python/pyproject.toml
index c8f601d80..5925e9747 100644
--- a/crates/python/pyproject.toml
+++ b/crates/python/pyproject.toml
@@ -20,7 +20,7 @@ classifiers = [
   "Programming Language :: Python :: 3.11",
   "Operating System :: OS Independent",
 ]
-dependencies = ["quil==0.5.2"]
+dependencies = ["quil==0.5.3"]
 
 # PEP 621 specifies the [project] table as the source for project metadata. However, Poetry only supports [tool.poetry]
 # We can remove this table once this issue is resolved: https://github.com/python-poetry/poetry/issues/3332