The 31-year-old Asghar had replaced Nabi as captain in 2015.
Virat Kohli and Rohit Sharma, who were rested for the series, slipped one place each to 8th and 9th respectively.
After playing a major role in Chennai Super Kings' IPL triumph, young pace bowler Matheesha Pathirana will be hoping to make the same impact for Sri Lanka in the ODI series against Afghanistan.
Rashid, 20, who already captains the team in Twenty20 Internationals, will take over from Gulbadin Naib in one-dayers and Rahmat Shah in Tests.
England cruised to a nine-wicket victory over Afghanistan in their final World Cup warm-up at The Oval on Monday after a Jofra Archer-led bowling attack restricted the underdogs to 160.
'The way we chased today, was very professional. We have been quality cricket from a couple of years. We will try our best to play positive cricket, and do a lot for our country.'
IMAGES from the ICC World Cup match played between Afghanistan and Pakistan in Chennai on Monday.
Ahead of the ICC Men's ODI World Cup 2023, here's a full list of the final squads of all ten teams.
Armed with a potent bowling attack, Afghanistan initially felt more comfortable defending totals but their batters have shown maturity as they have taken the side to back-to-back victories, chasing totals.
Images from the ICC World Cup match between Afghanistan vs South Africa, in Ahmedabad, on Friday.
IMAGES from the Asia Cup match between Bangladesh and Afghanistan played in Lahore on Sunday
A desperate Pakistan will be wary of a competent group of Afghanistan spinners' ability to strike hard on an often-gripping Chepauk pitch when the teams meet in the World Cup match in Chennai on Monday
This was Sri Lanka's second loss in as many matches, and, as a consequence, they have been knocked out of the tournament.
The Sri Lanka-Afghanistan fixture will be the second one at the Gadaffi Stadium and is expected to be a run feast. - Asia Cup 2023.
World Cup hosts India cantered to their second successive win of the tournament after captain Rohit Sharma's incendiary century set up their eight-wicket thrashing of Afghanistan on Wednesday.
Bangladesh eye an improved performance from their batters in their 2nd group match against Afghanistan on Sunday in the Asia Cup 2023.
Navigating their way through extreme pressure moments in their tournament opener, India will be eyeing a perfect game against a sprightly Afghanistan in the ODI World Cup match in Delhi on Wednesday.
Mohammad Shahzad struck a lusty 84 runs to propel Afghanistan to a seven-wicket victory over the West Indies to win the World Cup qualifying tournament at the Harare Sports Club on Sunday.
Aged 20 years and 350 days when he walked out for the toss on the first day, Rashid Khan broke a 15-year record held by former Zimbabwe wicketkeeper Tatenda Taibu.
With the series already in the bag, India will be eager to perfect their freshly-baked T20 template as a team and hope that skipper Rohit Sharma's bat finally fires when they face Afghanistan in the third and last match of the rubber in Bengaluru on Wednesday.
Pakistan Prime Minister and former cricketer Imran Khan heaped praises on the Afghanistan cricket team after registering their maiden Test win after.
Captain Rashid Khan took six wickets to help Afghanistan crush Bangladesh by 224 runs, in a rain-hit fifth and final day of the one-off Test.
Here are some 'different' clicks as England sauntered to another comfortable victory on Tuesday...
New Zealand face England-beaters Afghanistan aiming to keep their unbeaten run intact
Afghanistan on Sunday created one of the biggest upsets in World Cup history, shocking defending champions England in New Delhi.
Opting to field, West Indies bowlers came up with a fine show to bundle out Afghanistan for 194 in 45.2 overs.
Chance for Bangladesh, Afghanistan to produce that one breakout performance
Will the young gun survive Virat Kohli's comeback?
Rohit, who will also captain the side, will be expected to carry on with his ultra aggressive approach in the powerplay like he showed in the ODI World Cup.
Manish Pandey continued his good form as India 'A' outclassed Afghanistan 'A' by 113 runs.
IMAGES from the World Cup match played between England and Afghanistan in Delhi on Sunday.
Their campaign back on track after the humiliating loss in the opener, title holders England would look for a dominating all-round effort against a battered Afghanistan in the World Cup in New Delhi on Sunday, with eyes firmly set on bettering their net run rate.
Shivam Dube smashed a quickfire half-century to power India to a thumping six-wicket victory against Afghanistan in the first T20 International.
The West Indies managed to take an unassailable 2-0 lead in the three-match series.
Hashmatullah Shahidi was appointed as new Test and ODI captain
Afghanistan dismissed England for 215 to create one of the biggest upsets in World Cup history.
PHOTOS from the ICC World Cup match between India and Afghanistan played in New Delhi on Wednesday.
Opting to bat after winning the toss, India struggled on a slow pitch and crawled to 224-8 with Virat Kohli (67) and Kedar Jadhav (52) managing half-centuries against a disciplined Afghan attack.
Rashid Khan took three wickets as Afghanistan inched closer to victory against Bangladesh on the fourth day, in the one-off Test.
Virat Kohli was found to have breached Article 2.1 of the ICC Code of Conduct for Players and Player Support Personnel, which relates to "Excessive appealing during an International Match", read a statement from the International Cricket Council.
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