The Frenchman admits to being "under pressure" to add to his squad at the Emirates Stadium this month, with Spanish duo David Villa and Adrian Lopez both targets
Goal.com revealed last week that the Gunners had made a formal approach for David Villa, while they are continuing to pursue a deal for Adrian Lopez.
The Frenchman admitted he was under pressure to bring bodies to the club this month, but is only interested signing the very best players available.
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"We are still working in the transfer market but we only want exceptional players," he told reporters. "In England you are always under pressure to buy.
"We have no problem with people wanting to join us. There's different ways to be successful in football. Money helps but is not the only way."
Wenger has allowed two of his players to leave the club on loan, with Swiss defender Johan Djourou leaving for Hannover in Germany, and striker Marouane Chamakh joining West Ham until the end of the season.
The 63-year-old thinks both players will benefit from their temporary switches, but will not sanction any more departures until he has brought replacements to the club.
"At the moment no, [no one is leaving]," Wenger added.
"We have a good squad, a balanced one. At the moment nobody can go out, unless we buy somebody. At the moment our focus is to keep everybody. In every position we have two players. Three is too many and one is not enough."
"They don’t play here and they need games. A player who never plays loses his quality and his confidence. It’s important that they get a chance to play somewhere."