Substitute Brad Friedel looked ready to come on as Lloris was eventually led off the field but the Frenchman appeared to argue for the right to play on.
After further debate, Villas-Boas elected not to make a change and Lloris vindicated his decision by making a good late save from Gerard Deulofeu.
Villas-Boas said: "Hugo still doesn't recall everything about the incident.
"It was a very difficult moment for us and I am happy he is well.
"I made the call to keep him on the pitch because of the signs he was giving.
"He was determined to continue and looked concentrated, driven and focused enough for me not to make the call to replace him.
"The saves he did after the incident proved that right."
- Sports & Recreation
- Romelu Lukaku
- Brad Friedel