Barcelona have reportedly had bids of £72m and £90m firmly rejected by the Reds for Coutinho, but are now preparing an improved offer.
Fernandez says he is confident his club can complete transfers for the Brazilian and Borussia Dortmund's Ousmane Dembele.
He said, "We are negotiating and that is the truth. With all respect to both clubs, logically in a negotiation you need time to reach agreements for them and for us.
"We still have days ahead and we would like to go forward with this. It is true and I recognise this, that they are two players we feel like bringing here."
However, the Catalan club's sporting director has admitted they are facing an uphill battle to bring Coutinho to the Camp Nou because he does not have a release clause in his Anfield contract.
“Not just Barca but any team looking for top quality players are getting involved in a very difficult situation in this market,” Fernandez added.
“Why? Because the market is where clubs like us want to sign top quality players. There’s no buy-out clauses so that makes things trickier.
Liverpool are determined to keep hold of their prized asset and rejected the 25-year-old's transfer request last friday, prompting Fernandez to admit that it is the Anfield club who will ultimately decide Coutinho's future.
He concluded that, "it’s the clubs who will have the final say" in what is turning into one of the most fascinating transfer markets to date.