The 32-year-old has made just one start for the Championship outfit this season despite being a regular in their Premier League side during the 2011-2012 campaign.
Reports have claimed that Dunn would be open to a loan move away from Lancashire, but Black, who is in temporary charge at Rovers following the resignation of Steve Kean, has insisted that the experienced playmaker remains an important figure at his boyhood club.
Black said: "He's obviously coming towards the end of his career, whether that be in three or four or whatever years. He wants to play football and I can't criticise him for that.
"We'll just have to see how it unfolds. I can't guarantee Dunny that he's going to play football every week. He may well, but I can't guarantee that and he wants to play football. As far as I'm concerned he's a player here and let's see what happens.
"He's an experienced player, he's a Blackburn lad, he knows what it means to the people around here for the team to be doing well so that's an element I require in the dressing room. The longer I can keep that here, the better."
Dunn has made 328 appearances during two spells at Blackburn since debuting in 1998.