We experimentally demonstrate the use of continuously tunable optical parametric delay at 160 Gbit/s, based on conversion/dispersion for demultiplexing a 160 Gbit/s signal to 40 Gbit/s. A 15.2 ns delay is shown for a 160 Gbit/s signal, with <0.1 ps resolution, achieved by inserting cascaded acousto-optic modulators after the pump laser for delay fine tuning.