The 29-year-old is believed to be on his way out of the Allianz Arena this summer, with Bayern having signed 22-year-old Niklas Sule last summer as his medium and long-term replacement in Munich.
Germany international Boateng is valued at between €50 million (£44m/£58m) and €60m (£53m/$70m), so a deal will have to be agreed between Bayern and PSG, with Rummenigge claiming that the clubs themselves have yet to discuss a price.
"At the moment there is no direct contact between the clubs," Rummenigge told reporters. "But there is contact between his agents and PSG. We have to wait, if we could find a basis for a transfer.
"Now we have to wait and see whether at the end of the day we find a basis on which we can agree on a transfer. We have to find a transfer fee that would be acceptable for both.
"In principle, we have enough players at this position, even if Jerome leaves."
As well as Sule at centre-back, Bayern Munich also have Mats Hummels, Javi Martinez and teenage defender Lars Lukas Mai, who made his senior debut last season, while full-backs David Alaba and Joshua Kimmich have both played in the middle in the Bundesliga.
Bayern have also been linked with a move for Stuttgart defender Benjamin Pavard, who excelled for France during their World Cup triumph, but the club have played down talk of a transfer for the 22-year-old despite strong rumours speculating that he has agreed a switch for summer 2019.