The 23-year-old's Barca contract was due to expire at the end of the season, allowing their La Liga rivals Sevilla to sign him on a cut-price deal.
"It seems Munir has taken a decision and, evidently, the club have also made a decision", Valverde said in a news conference on Wednesday.
Morata has scored nine goals in 24 appearances so far this season but has struggled for regular game time under Maurizio Sarri.
A Spain youth worldwide, Munir has been capped once for the senior side, coming on for a 13-minute appearance against Macedonia in 2014. However, he had started just four games this season after returning from a successful loan spell at Alaves a year ago.
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Beto O'Rourke is doing little to dim speculation that he might jump into a field that has no clear front-runner. Mr Castro made his announcement in his home town of San Antonio , Texas, where he was mayor from 2009 to 2014.
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The La Liga leaders have been combing the market for a long-term backup to Suarez for a several months now, with Krzysztof Piatek, Nicolas Pepe and Luka Jovic all checked out.
Meanwhile, Legit.ng had earlier reported that Barcelona manager Ernesto Valverde has heaped praise on out of favour Chelsea striker Alvaro Morata.
However, as of now, Barcelona are only interested in signing Morata to a loan deal according to reports, the final cost of which could rise as high as 10 million euros.