The Republic of Ireland has fallen eight spots to 36th in the latest FIFA rankings.
The slump comes after a 6-1 hammering by Germany in the recent World Cup qualifying match in Dublin.
There was better news for Northern Ireland however, after Michael O’Neill’s men enjoyed a leap of 17 places, thanks to a surprise away draw with Portugal, moving to 100 in the standings.
England have slipped a place to sixth in the rankings.
Euro 2012 finalists Italy, the side who eliminated England in that competition, replace Roy Hodgson’s side in the top five.
England played two World Cup qualifiers in the eligibility period, with an expected 5-0 win over San Marino and 1-1 draw in Poland.
Spain and Germany remained unmoved in first and second, with Argentina climbing into third above Portugal, who slip to fourth following their draw against Northern Ireland.
Scotland, who sacked Craig Levein as manager this week, have dropped below Wales after being beaten 2-1 in their head-to-head match last month.
Scotland drifted by 14 to 70th while a 2-0 defeat in Croatia meant Wales also dropped from 57th to 66th.
Elsewhere Fabio Capello’s Russia have moved into the top 10 after a strong start to their World Cup qualifying campaign.