Bony was said to be a transfer target for many clubs across England and Europe after an outstanding season last term.
The Ivory Coast forward, who joined Swansea from Vitesse last July, scored 26 goals in 48 appearances in all competitions during his maiden campaign with the Welsh club.
He is yet to score this term, but Monk is not worried and feels Bony's full focus is on helping Swansea improve.
Monk told the South Wales Evening Post: "'Wilf' commits very well; he is focused on what we want to do.
"If he was coming in and wandering about disillusioned, we would have a problem.
"But he does not do that. He comes in, commits and is at one with the group. That is all I can ask for.
"All strikers get frustrated when they are not scoring, but for me it is just about what you are contributing to the team.
"Wilf has not scored yet but his contribution in terms of hold-up play, winning the ball, bringing others into the game and fighting for the team can be bigger than a goal sometimes.
"A lot came through him against West Brom – he was strong and allowed us to get up the pitch."
Swansea have won all three of the Premier League games this season and sit second in the table.
