The 29-year-old, who has made close to 300 league appearances for the Blues, has long been linked with a move away from Eastlands this summer with a string of defenders being tipped to join the cash-rich club.
Hughes stated on Thursday that Dunne would be the club's captain for the 2009/10 campaign.
But with Premier League duo Sunderland, Tottenham Hotspur and Stoke City all reportedly interested in the Republic of Ireland international, the former Manchester United striker has admitted there has been interested in Dunne's services.
"There has been interest in Richard which is to be expected because he is a good player," Hughes told the club's official website.
"I have spoken to Richard already. We have no firm offers for him and it is not something on which we are going to dwell.
"We are looking to strengthen all areas and people make assumptions that maybe players that we are after will have an effect on those who are already here. What we are looking at is to make sure the team and the squad is stronger than it was last season.
"I have always said I will not let good players go unless we are in a position to make ourselves stronger."
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