Bangladesh moved up three places to sixth, their highest-ever position in the Test rankings. Sri Lanka dropped to seventh, while Pakistan fell to eighth.
Australia remain at the top of the current rankings, followed by South Africa in second and New Zealand in third. India are fourth, England fifth, Bangladesh sixth, Sri Lanka seventh and Pakistan eighth.
Bangladesh made history in the first Test against Australia by defeating the hosts by nine wickets, securing their first Test victory on Australian soil.
Australia, however, responded strongly in the second Test, beating Bangladesh by an innings and 51 runs to level the series 1-1.
Pakistan, meanwhile, suffered a heavy defeat against hosts England in the first Test of their three-match series, resulting in a further drop in the national team's Test ranking.