Bundesliga strugglers Borussia Dortmund have agreed to sign Slovenia international Kevin Kampl in January.
Cardiff have agreed to sell Norwegian midfielder Mats Daehli to Freiburg in January.
The 30-year-old striker signed for the Royals on transfer deadline day on loan until January from Crystal Palace.
Murray returned to action in February after a nine-month injury lay-off following cruciate ligament surgery, but failed to establish himself in the Eagles' starting line-up.
Hammond has faith in the former Brighton & Hove Albion striker's ability to return to form at the Madejski Stadium, and states that they are likely to offer him a permanent deal if he stays fit.
"Glenn has had a serious injury and we're mindful of that, even though he's recovered very well," he told GetReading.
"From a club perspective we were very keen to do a loan deal to have a good look at him to see where he is at. We know the quality of the player, but we have to be clear on his fitness. I'm sure he'll come and prove that.
"We have an option to buy him at the end of the loan period for a certain price. We're delighted to have him. He was a player that the manager really wanted.
"He's a proven goalscorer and he is looking forward to coming to Reading. I think it's a good fit. He's got things that he wants to prove still.
"He has more to his game than just goals. He's a very good link-up player, a good target, a good focal point for the team.
"He has had an injury, but he's back from that. We've been very fortunate to land him because proven goalscorers are on many other teams' radar."