In a medium pot, add dried chiles, and cover with water.
Bring water to a boil for 5 minutes then lower it to a simmer for 10 minutes. Turn heat off, cover saucepan and let sit.
While chiles soften, gather the remainder of the ingredients for the sauce
Using a slotted spoon, transfer the softened chiles to a large blender. Add the tomatoes, garlic, onion, broth, and salt. Puree until completely smooth.
Taste and season with more salt, if necessary. If the sauce is too spicy, add more tomatoes.
Heat a large saute pan or skillet over medium-high heat. Add olive oil and shrimp. Cook shrimp for 1 minute per side, or until shrimp is light pink.
Add the red chile sauce to the pan or skillet and mix together to coat the shrimp. Lower the heat to medium and cook for 3 to 5 minutes, until the sauce is bubbling and hot.
Remove the pan or skillet from the heat and serve
Makes 4 servings