For a 3/16 inch (4.8 mm) rivet, the recommended hole size is between 4.9 and 5.0 mm (0.192 - 0.196 inch). This provides a slight clearance for proper rivet expansion and seating. 



Key Considerations:
Rivet Diameter:
A 3/16 inch rivet has a nominal diameter of 3/16 inch (4.8 mm). 
Hole Size Range:
The hole should be slightly larger than the rivet diameter, typically within the range of 4.9 to 5.0 mm (0.192 - 0.196 inch). 
Grip Range:
The grip range, which is the thickness of the materials being joined, also affects the rivet selection, but not the hole size. 
Material Thickness:
Ensure the rivet has enough grip range to securely hold the materials together. 

In summary, drill a hole about 0.01 to 0.02 inches larger than 3/16 inch, typically using a #11 drill bit (~0.191 inch), resulting in a hole size around 0.192 to 0.196 inches for a 3/16 inch rivet.