Chelsea's interest in Camara has grown since Fernández was left out of the matchday squad for Sunday's win over Brighton, with the Argentine still pushing for a move to Manchester City before Tuesday's deadline.
City have yet to table a formal bid, and Chelsea are said to be exploring the Camara option specifically to cover themselves while Fernández's situation drags on.
Monaco, though, have given every indication they intend to keep hold of their 22-year-old, who played the full 90 minutes of Sunday's 2-0 win over Marseille. Head coach Filipe Luís, once of Chelsea himself, was asked directly about Camara's future afterwards.
"I hope to keep him. You see the player that he is - unbelievable. Until the end of the transfer window, anything can happen," he said. "Everyone hopes that he stays. He is elite."
French journalist Matt Spiro described the fee being discussed for Camara, around €45m (£38.5m), as remarkably modest given his level.
"The €45million being quoted for Lamine Camara is crazily low," Spiro wrote on X. "He was sensational tonight for Monaco against Marseille. Never stops running, so quick, so athletic, so clever, and still only 22. Terrific signing if Chelsea get it done."
Whether Chelsea are willing to test Monaco's resolve at that price, with barely 48 hours left before the window shuts, remains to be seen.
Camara joined Monaco from Senegalese club Génération Foot in 2023 and has since become a first-team fixture, combining defensive discipline with the kind of ball-carrying ability that has made him one of Ligue 1's most closely watched young midfielders.
Chelsea's interest is understood to be genuine rather than opportunistic, with the club's recruitment staff having tracked him for some time, but Monaco's public stance - reinforced by Filipe Luís's comments and the player's own full 90 minutes against Marseille - suggests any approach would need to be substantial to have a realistic chance of success this close to the deadline.