According to the table in
WormFood's AVR Baud Rate Calculator Ver. 2.1.1
none of the 16MHz entry is 100% error-free
So, how does arduino handle communication so good?
Well, all the speeds that are "green" are calculated to have bit-rate errors that are too low to cause actual communications errors. The way that "asynchronous" communications is supposed to work is that the receiver re-synchronizes to the transmitter at the start of each byte, so as long as the bit edges don't drift past where they need to be within 10 or 11 bit times, everything should work just fine.
The other reason is that most of the arduino communications is between the arduino and the PC via that serial/usb chip on the board, so even if the bitrates are FAR off, you'll still get reliable communications as long as the serial/usb chip (on uno, ALSO an AVR running at 16MHz) both err in the same direction. (some of the problems that have occurred have been because the 8u2 and the 328 used DIFFERENT algorithms for picking the divisors, so that one ran +3% and the other ran -2.8%, which is not so good. (and while 115200bps is a common "fastest" speed for PCs, it's a particularly bad speed for a 16MHz AVR. Sigh.)