Former world number one Djokovic will likely fall further by the end of the year as he has already announced he will not play again this season due to an elbow injury.
The main move saw German Alexander Zverev climb three places to a career high eighth.
Argentina's Leonardo Mayer was the biggest mover, up 89 places to 49th following his victory in the Hamburg Open.
And there was consolation for German beaten finalist Florian Mayer, who still moved up 45 spots to 56th.
ATP rankings as of July 31: 1. Andy Murray (GBR) 7,750pts; 2. Rafael Nadal (ESP) 7,465; 3. Roger Federer (SUI) 6,545; 4. Stan Wawrinka (SUI) 5,780 (+1); 5. Novak Djokovic (SRB) 5,325 (-1); 6. Marin Cilic (CRO) 5,155; 7. Dominic Thiem (AUT) 4,065; 8. Alexander Zverev (GER) 3,150 (+3); 9. Kei Nishikori (JPN) 3,140 (-1); 10. Milos Raonic (CAN) 3,130 (-1); 11. Grigor Dimitrov (BUL) 3,070 (-1); 12. Jo-Wilfried Tsonga (FRA) 2,805; 13. David Goffin (BEL) 2,560; 14. Tomas Berdych (CZE) 2,480; 15. Pablo Carreno (ESP) 2,350; 16. Roberto Bautista (ESP) 2,335 (+2); 17. Lucas Pouille (FRA) 2,255; 18. John Isner (USA) 2,250 (+2); 19. Jack Sock (USA) 2,200; 20. Nick Kyrgios (AUS) 1,930 (+1).
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