Fellow Kiwi Kane Williamson fell two spots to seventh.
Sodhi joins Munro on top as the No.1 ranked bowled after picking up two wickets in Wednesday night's match. The leg spinner made a big jump up the rankings of his own, moving from 10th.
"I'm really grateful for the success I've had and I'm stoked to be ranked number-one. It hasn't really sunk in just yet, but I'm sure it will as the days progress," Sodhi said.
"I've been trying to find a really good balance between attacking and defending, and I think it's getting better and better the more I play.
"I played club cricket with Colin when I was about 15-years-old and he handed me my first premier cricket cap. So, I'm stoked to see him doing what he is doing at the highest level.
"We've been a really good T20I side for quite some time now and I think it's probably down to how we adapt to conditions and also our leadership - the boys have been really good at helping us young players."
The pair become just the second Kiwi duo to sit atop the rankings at the same time, after Brendon McCullum and Daniel Vettori in 2009 and 2010.