The top-seeded stormed into the last-four of Rome Masters after easing past seventh-seed Caroline Garcia of France 6-2, 6-3 in a one-sided quarter-final clash that lasted one hour and 14 minutes.
Paes, who reached the final in Dubai with Jamie Cerretani last week, jumped to 46, two places behind Divij Sharan (44), who gained one place, while, Rohan Bopanna remains unchanged at number 20.
Roger Federer will remain at No. 2 behind Rafael Nadal on the ATP tour after successfully defending his Australian Open title and capturing a 20th major with a victory over Marin Cilic on Sunday night.
There were no changes in this week's top 10, as Denmark's Caroline Wozniacki held the third position, followed by Karolina Pliskova.
Mladenovic jumped three positions to occupy the 10th spot, while Russia's Svetlana Kuznetsova dropped enough to leave the Top 10 list.
The Russian tennis ace defeated Belarusian teenager Aryna Sabalenka 7-5, 7-6 (8) on Sunday to move from 86th to 57th in the latest WTA rankings.
The new world number one will play the winner of the semifinal between Garcia and 12th-seeded Petra Kvitova of the Czech Republic in the finals of China Open.
Despite an early loss to Petra Kvitova in the last 16 of US Open, Muguruza topped the WTA rankings for the first time in her career dethroning Czech Republic's Karolina Pliskova.
Muguruza becomes the 24th woman overall to hold the number one ranking and the second player representing Spain to achieve this historic milestone.
Pliskova, the 2016 runner-up at Flushing Meadows, is joined by four past U.S. Open champions - Angelique Kerber, Venus Williams, Sam Stosur and Svetlana Kuznetsova.
Simona Halep could become World No. 1 for the first time in her career after next week's Eastbourne Championships. Halep needs to reach the semi-finals in order to have a shot at the No.1 ranking.
India’s ace tennis player Sania Mirza has moved to the number one spot in the latest WTA rankings after she won the Western and Southern Open with her new partner Barbora Strycova.
Madrid: American tennis player Serena Williams held on to the lead in the Women's Tennis Association (WTA) rankings released on Monday with 12,721 points.The rankings were unchanged this week as Russia's Maria Sharapova retained her
Paris, Feb 14: Russian Maria Sharapova overtook Czech Petra Kvitova to take the world number two spot in the latest WTA rankings released on Monday. Sharapova was beaten in the quarterfinals of the Paris Open
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