Reports in Argentina mentioned the Real Betis striker as part of a swap deal that would see Boca defender Clemente Rodriguez move to 'Los Verdiblancos'.
However, Palermo has poured scorn on the reports and insists he intends to remain in Europe for, at least, the next two seasons.
Palermo joined Betis from Villarreal during the summer but has made a disappointing start to life with the Seville-based club, notching just one goal since his arrival and falling out of the first team picture in recent weeks.
